Redwire Corp (NYSE:RDW) shares are moving lower in after-hours Wednesday after the company reported first-quarter results and announced plans to offer and sell up to $350 million in common stock.

Redwire stock is among today’s weakest performers. What’s pressuring RDW stock?

Redwire Q1 Highlights

Redwire reported first-quarter revenue of $96.97 million, missing analyst estimates of $104.65 million, according to Benzinga Pro. The company posted a first-quarter loss of 40 cents per share, missing estimates for a loss of 15 cents per share.

Total revenue was up 57.9% on a year-over-year basis, driven by “very strong demand” for the company’s differentiated products. Backlog grew to $498.1 million at quarter’s end.

Redwire affirmed its full-year ...