NASA selected 41 proposals from 37 companies for its 2025 ACO collaboration program (Moon/Mars tech). Made In Space, Inc. is also listed, and it's been a wholly-owned Redwire subsidiary since 2020.
Almost every space and drone stock has been raising money this year. In the short term, it does sound horrible, but every company has its reasons. I believe RDW's ATM is about gearing up to accelerate production and meet the demand in the space and drone markets. Since the start of the year, the company has repeatedly said it has developed incredible technology across many niches, and that now it's time to scale it: the CEO told CNBC on June 2 that "now is the time to be scaling and gaining market share," and on the Q1 earnings call management said the ATM lets them "opportunistically fund emerging technologies" and put money into "high gross margin, high growth rate opportunities" across six named programs.
Overall, the hype that SpaceX allowed every company to raise money. What we really should be asking is, who is going to use it purposefully:
| Company | Amount | Date (2026) |
|---|---|---|
| Rocket Lab | $3.0B | May 20 |
| AST SpaceMobile | $1.075B | Feb 17 |
| Ondas | $1.0B | Jan 12 |
| Karman | $854M | Late May |
| Redwire | $500M | Jun 9 |
| Intuitive Machines | $500M | Jun 3 |
| Red Cat | ~$225M | May |
| Firefly | ~$192M | Late May |
| Unusual Machines | $150M | Mar 23 |
| Sidus Space | $100M | Jun 1 |
| Total | ~$8B |
RDW trades at 13.8x sales, and less since the market just opened. Put it on the same multiple as its peers, and you get these fair values of RDW:
We were not on the hype train with the rest because AE sold 60% of their shares whenever the stock was about to pop off (Now they are OUT). Everything aligns now, from the opportunities that exist in drones and space, for RDW to reach $50, $100, or even its average space sector value of $259 in the next few months.
