MDA Space invests $10-million in Maritime

Executive Summary

• MDA Space Ltd. invested $10 million in Maritime Launch Services Inc., acquiring equity at C$0.223 per share.
• The investment grants MDA Space board representation and pro‑rata rights to future financings, and will be used for R&D related to Spaceport Nova Scotia, triggering retirement of existing convertible debentures.
• The partnership is positioned as a key step toward establishing Canada’s sovereign orbital launch capability and accelerating the readiness of Spaceport Nova Scotia.

Key Details

• Investment amount: $10 million (C$0.223 per share).
• Equity stake: Not disclosed, but sufficient to obtain board nomination rights.
• Investor Rights Agreement: Provides MDA Space the right to nominate one director to Maritime Launch’s board and pro‑rata participation in future financings of the spaceport.
• Use of proceeds: Funding applicable research and development initiatives for continued development of Spaceport Nova Scotia.
• Financing impact: Triggers retirement of existing convertible debentures issued by Maritime Launch.
• Strategic rationale: Enhances Canada’s domestic launch value chain, offering reliable, responsive orbital launch services to commercial, civil, government, and defence customers.
• Operational implication: MDA Space will become an operational partner at Spaceport Nova Scotia, supporting development and future operations.

Notable Quotes

“MDA Space's investment and partnership come at a pivotal moment for Maritime Launch and for Canada's space future,” said Stephen Matier, President & CEO of Maritime Launch Services.

“In a rapidly changing space industry, establishing sovereign launch capacity in Canada … is important. This is an example of strategically located critical infrastructure that is needed,” said Mike Greenley, CEO of MDA Space.