🔴 Redwire Corp is trading 7.9% down today after announcing a $500 million equity offering

Redwire Corp is trading at $17.10 (7.9% down) in pre-market after the company announced a new equity offering program.

• The company entered into an agreement to sell up to $500 million of its common stock through at-the-market offerings.
• This news follows a period of high volatility after the stock surged last week on excitement over a contract to deploy the first commercial greenhouse on the International Space Station.
• The potential for share dilution from the new offering is the likely catalyst for today's pre-market decline.