Before launching its preliminary public providing past calendar year, Genesis Park Acquisition Corp. identified 19 potential merger targets.

Jacksonville-dependent place technological innovation enterprise Redwire was not just one of them.

Having said that, it did not just take long after the Nov. 27, 2020, IPO for Genesis Park to property in on Redwire.

“Redwire was not included in the Focus on Listing, and was subsequently discovered as a possible small business mixture focus on on November 30, 2020 via GPAC’s community of non-public fairness and venture funds buyers and by means of Jefferies, GPAC’s funds markets advisor,” Genesis Park explained in a proxy assertion filed previous 7 days for its pending merger with Redwire.

Genesis Park President Jonathan Baliff experienced an introductory cellular phone call a week later on with reps of Redwire and quite a few months of negotiations led to an settlement in March 2021.

Genesis Park is a specific goal acquisition firm shaped to uncover a merger target. The merger will make Redwire a public firm.

From its primary focus on record, Genesis Park finally had some degree of discussions with eight organizations that ranged from “pre-profits businesses” to providers with income of much more than $6 billion, the proxy said.

Redwire described earnings of $31.7 million in the very first quarter this yr, according to the proxy. But it is projecting revenue to grow to $1.4 billion in 2025.

During a July 9 analyst presentation webcast, Baliff claimed Redwire’s monetary profile