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JACKSONVILLE, Fla. - Redwire Corporation (NYSE:RDW), a space technology company currently valued at $1.45 billion, has secured a contract from Axiom Space to develop and deliver roll-out solar array (ROSA) wings for Axiom Station’s first module, the company announced in a press release statement. According to InvestingPro data, analysts anticipate sales growth for Redwire in the current year, with the stock showing significant momentum, gaining over 16% in the past week.
The ROSA wings will power the Payload Power Thermal Module (AxPPT), which is scheduled to launch toward the end of 2027. This module represents the first component of Axiom’s planned commercial space station. InvestingPro analysis reveals that Redwire maintains a moderate debt level and its liquid assets exceed short-term obligations, positioning it well for such long-term projects. Discover 9 more exclusive ProTips and comprehensive analysis with an InvestingPro subscription.
According to the announcement, Axiom Space intends to initially attach the AxPPT to the International Space Station before separating it to rendezvous with subsequent modules. The company aims to achieve independent operational capability with a two-module configuration as early as 2028, followed by a complete four-module station by 2030.
The contract comes as progress continues on the AxPPT primary structure, which is being built by Thales Alenia Space in Italy. The structure completed its final weld in July, with module integration and assembly to take place at Axiom Space’s facility in Houston.
Redwire’s ROSA technology has been deployed on multiple space missions, including the International Space Station and NASA’s Double Asteroid Redirection Test mission, with what the company describes as a 100% success rate of on-orbit performance.
The development aligns with U.S. objectives to maintain a continuous human presence in low-Earth orbit after the International Space Station’s retirement. Axiom Station modules will be integrated and assembled at the company’s facility in Houston.
Redwire, which employs approximately 1,300 people throughout the United States and Europe, specializes in space and defense technology solutions. With analyst price targets ranging from $10 to $28 per share and a consensus recommendation leaning strongly toward "Buy," the company’s growth trajectory has caught Wall Street’s attention. Access detailed valuation metrics and the comprehensive Pro Research Report, along with analysis of 1,400+ other stocks, through InvestingPro.
In other recent news, Redwire Corporation announced that its subsidiary, Edge Autonomy, has delivered additional Penguin uncrewed aerial systems to the Ukrainian Armed Forces. This delivery is part of an ongoing contract since Russia’s full-scale invasion in February 2022, aimed at enhancing surveillance and target acquisition capabilities. Additionally, Edge Autonomy secured a contract to supply its Stalker Group 2 uncrewed aerial systems to a European NATO country. The contract includes aircraft systems, spare parts, and training services for reconnaissance and intelligence operations, though financial details and the customer remain undisclosed.
Furthermore, Redwire reported the conversion of 31,719.43 shares of its Series A Convertible Preferred Stock into 11 million common shares by Bain Capital. This transaction was executed at a conversion price of $3.05 per share, based on terms from the fourth quarter of 2022. Following this, the company’s total outstanding common stock increased to 155,188,092 shares, with 71,702.95 shares of Series A Convertible Preferred Stock still outstanding. These developments reflect Redwire’s ongoing strategic activities in both defense contracts and stock management.
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