RDW Schedule 13D/A: 28,509.34 preferred converted to 9.96M common
Rhea-AI Filing Summary
Redwire Corp (RDW) disclosed that Bain Capital Credit Member, LLC and BCC Redwire Aggregator, L.P. (the Reporting Persons) converted 28,509.34 shares of Series A Convertible Preferred Stock into 9,962,691 shares of common stock and then sold those 9,962,691 shares under Rule 144 on October 7, 2025. Following these transactions the Reporting Persons report beneficial ownership of 0 shares, representing 0% of outstanding common stock, and state that this Schedule 13D amendment serves as an exit filing because they now hold less than 5% of the class. The filing amends prior Schedule 13D submissions and incorporates the conversion and subsequent sale as the primary purpose of the transactions.
Positive
- Exit filing completed showing Reporting Persons reduced ownership to 0 shares (0%)
- Conversion and sale fully disclosed with exact share counts: 28,509.34 preferred converted to 9,962,691 common shares
Negative
- Large single-day sale of 9,962,691 shares could have created downward pressure on the stock on October 7, 2025
- Reporting Persons no longer a potential source of future support via preferred-to-common conversion positions
Insights
TL;DR: Reporting Persons converted preferred stock, sold all resulting common shares, and filed an exit Schedule 13D.
The conversion of 28,509.34 Series A preferred shares into 9,962,691 common shares followed the Certificate of Designation terms and the Reporting Persons directed issuance of the common shares.
The immediate sale of those 9,962,691 shares under Rule 144 on October 7, 2025 reduced beneficial ownership to 0%, triggering this amendment as an exit filing; the signature and certification sections confirm authorized execution.
TL;DR: This is a liquidity exit by a convertible preferred holder; ownership falls below 5% and is now zero.
The transaction does not disclose any retained position by the Reporting Persons and explicitly states they are no longer beneficial owners of more than 5% of the common stock. That removes any disclosure obligations tied to a >5% beneficial owner status.
Near term, investors may note reduced insider/preferred-holder overhang; monitor public float and trading volume following the reported sale on October 7, 2025 for any pricing impact.