MDA Space Ltd. (MDA.TO) announced the pricing of its marketed public offering of common shares of MDA Space in the United States and Canada.
The underwriters have agreed to purchase 9.84 million Common Shares from the Company in the Offering at a price of US$30.50 per share, for aggregate gross proceeds to the Company of approximately US$300 million.
In connection with the initial public offering in the United States, MDA Space has been approved to list its Common Shares on the New York Stock Exchange under the symbol "MDA". Trading of the Common Shares is expected to commence on the NYSE on March 12, 2026 and will continue on the Toronto Stock Exchange under the symbol "MDA".
The Offering is expected to close on or about March 16, 2026.
The Offering is being conducted through a syndicate of underwriters led by J.P. Morgan and RBC Capital Markets, who are acting as joint lead active bookrunners, and BMO Capital Markets, Deutsche Bank Securities, Jefferies, Scotiabank, and Canaccord Genuity, who are acting as joint active bookrunners.
MDA Space said it has also granted the underwriters an over-allotment option, exercisable for a period of 30 days from the date of the underwriting agreement for the Offering, to purchase up to an aggregate of 1.48 million additional Common Shares at a price per share equal to the Offering Price, representing 15% of the number of Common Shares to be sold pursuant to the Offering.
MDA Space intends to use the net proceeds of the Offering to allow the company to pursue its growth strategies, including expanding its customer base and solutions, supporting the growth of existing customers, and pursuing other strategic opportunities, which may include acquisitions or investments.
MDA Space may also use a portion of the net proceeds of the Offering for general corporate purposes, including the repayment of a portion of amounts outstanding under the Company's existing credit facilities.
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