Safran and Edge Autonomy present Lanner, a new configuration of the Penguin lightweight tactical drone system

JACKSONVILLE, Fla. (January 20, 2025) – Redwire Corporation (NYSE: RDW), a leader in space infrastructure for the next generation space economy, today announced that it has signed a definitive agreement to acquire Edge Autonomy, a leading provider of field-proven uncrewed airborne system (“UAS”) technology. Under the terms of the merger agreement, Redwire will acquire Edge Autonomy for $925 million on a debt free, cash free basis and subject to customary working capital, cash and debt adjustments. The merger consideration is expected to be paid using $150 million in cash and $775 million in shares of Redwire common stock, based on the volume-weighted average trading price on the NYSE for the 30 trading days ending on January 17, 2025 of $15.07 (“30-day VWAP”). Transaction financing and closing details are as described below. Following the merger, Edge Autonomy and its subsidiaries would be wholly-owned subsidiaries of Redwire.

The acquisition is expected to transform Redwire into a global leader in multi-domain autonomous technology, broadening its portfolio of mission-critical space platforms to include combat-proven autonomous airborne platforms. 

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Safran Electronics & Defense and Edge Autonomy proudly present Lanner, a new configuration of the Penguin Vertical Takeoff and Landing (VTOL) Uncrewed Aircraft System (UAS) during the exhibition Eurosatory 2024. The Lanner configuration is based on the field-proven Penguin UAS platform and has been specifically modified to meet the requirements of the SDTL (Light Tactical Drone System) program for the French armed forces. 

In this configuration, the Penguin drone can address multiple missions through a simultaneous dual payload capability, including Electro-Optical/Infra-Red systems, electronic warfare (detection of radio signals or jamming for example), radar, and ammunitions. It can thus carry out land and maritime intelligence, surveillance and reconnaissance missions.

“We are excited to partner with Safran Electronics & Defense to offer a world-class UAS to the French armed forces”, said Josh Stinson, Chief Growth Officer for Edge Autonomy, “The Lanner configuration capitalizes on the field-proven capabilities of Edge Autonomy’s Penguin UAS along with Safran’s system expertise in optronics, PNT (position, navigation, and timing), UAV airworthiness, and mission systems.”

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