MDA Space invests $10-million in Maritime

Executive Summary

• MDA Space Ltd. has made a $10 million equity investment in Maritime Launch Services Inc., becoming an equity owner and strategic partner.
• The investment accelerates the readiness of Spaceport Nova Scotia for orbital launch operations, aiming to establish Canada's sovereign launch capability and strengthen the domestic space value chain.
• MDA Space will become an operational partner at Spaceport Nova Scotia, supporting its development and future operations, while the investment triggers the retirement of convertible debentures.

Key Details

• Investment Amount: $10 million.
• Price Per Share: 22.3 cents.
• Strategic Purpose: To advance Canada's sovereign launch capability, strengthen the domestic space value chain (ground to orbit), and accelerate Spaceport Nova Scotia's readiness for orbital launch operations.
• Operational Role: MDA Space expects to become an operational partner at Spaceport Nova Scotia, supporting development and future operations.
• Use of Proceeds: Applicable research and development initiatives relating to the continuing development of Spaceport Nova Scotia.
• Financial Impact: The investment will trigger the retirement of convertible debentures.
• Governance Rights: An investor rights agreement grants MDA Space the right to nominate one individual to sit on the board of Maritime Launch.
• Future Financing Rights: MDA Space has pro-rata participatory rights in future financings of the Spaceport.
• Target Asset: Spaceport Nova Scotia, Canada's first commercial orbital launch complex, located near Canso, N.S., designed for low-Earth orbit satellite delivery.

Notable Quotes

• "MDA Space's investment and partnership come at a pivotal moment for Maritime Launch and for Canada's space future... Together, we are building a complete sovereign launch solution that strengthens Canadian innovation, drives economic growth and enhances security in space." — Stephen Matier, President and CEO, Maritime Launch Services.
• "In a rapidly changing space industry, establishing sovereign launch capacity in Canada that will respond to the global demand for alternate launch capabilities on Canada's Atlantic Coast is important. This is an example of strategically located critical infrastructure that is needed. MDA Space is pleased to partner with Maritime Launch on this exciting new chapter for the Canadian space industry." — Mike Greenley, CEO, MDA Space.