MDA Space closes $300-million (U.S.) offering

Executive Summary

• MDA Space Ltd. has closed its initial public offering (IPO) in the United States, resulting in the listing of its common shares on the New York Stock Exchange.
• The company issued and sold 9,836,065 common shares at a price of $30.50 (U.S.) per share, generating gross proceeds of approximately $300 million (U.S.).
• Net proceeds will be used to pursue growth strategies, including expanding the customer base, supporting existing customers, pursuing strategic opportunities (such as acquisitions or investments), and repaying a portion of existing credit facilities.

Key Details

• Transaction Type: Initial Public Offering (IPO) in the United States and Canada.
• Shares Issued: 9,836,065 common shares.
• Price Per Share: $30.50 (U.S.).
• Gross Proceeds: Approximately $300 million (U.S.).
• Underwriters:
  • Joint Lead Active Bookrunners: J.P. Morgan and RBC Capital Markets.
  • Joint Active Bookrunners: BMO Capital Markets, Deutsche Bank Securities, Jefferies, Bank of Nova Scotia, and Canaccord Genuity.
• Use of Proceeds:
  • Expanding customer base and solutions.
  • Supporting growth of existing customers.
  • Pursuing strategic opportunities, which may include acquisitions or investments.
  • General corporate purposes, including repayment of amounts outstanding under existing credit facilities.

Notable Quotes

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