- MDA Space (TSX:MDA) launched a U.S.–Canada public share offering, marking its first U.S. IPO and applying to list on the NYSE under the symbol “MDA”
- Underwriters agreed to buy 9.8 million shares at US$30.50, raising approximately US$300 million, with a 30‑day option to purchase 15 per cent more
- Proceeds will support growth initiatives, including customer expansion, strategic opportunities, and potential debt repayment, following recently reported 44 per cent revenue growth to US$499 million
- MDA Space stock (TSX:MDA) last traded at C$45.44
MDA Space (TSX:MDA) has officially launched a marketed public offering of its common shares in both the United States and Canada, marking the company’s debut on U.S. public markets. As part of the effort, the space technology firm has applied to list its common shares on the New York Stock Exchange (NYSE) under the ticker symbol “MDA.” Trading on the NYSE is expected to begin following the pricing of the offering. The stock will continue to trade concurrently on the Toronto Stock Exchange, where it already trades under the same symbol.
The underwriters participating in the transaction have agreed to purchase 9,836,065 common shares at a price of US$30.50 per share. The sale is expected to generate approximately US$300 million in gross proceeds for MDA Space.
Syndicate led by top global banks
The marketed offering will total US$300 million in common shares and will be carried out by a large syndicate of global financial institutions. J.P. Morgan and RBC Capital Markets will act as joint lead active bookrunners. They will be joined by BMO Capital Markets, Deutsche Bank Securities, Jefferies, Scotiabank, and Canaccord Genuity, all serving as joint active bookrunners.
The final share price will be determined at the time the company enters into a formal underwriting agreement, with the offering priced “in the context of the market.”
As part of the deal, MDA Space will grant underwriters a standard 30‑day over‑allotment option to purchase up to 15 per cent additional shares, providing flexibility if investor demand exceeds expectations.
Proceeds aimed at growth, expansion, and business moves
In its announcement, MDA Space said it intends to deploy the net proceeds to accelerate its multi‑year strategic growth plan. This includes:
- Expanding its customer base and product solutions
- Supporting growth among existing customers
- Pursuing strategic opportunities, including potential acquisitions or investments
- Funding general corporate purposes
- Potentially repaying a portion of debt under its existing credit facilities
The offer comes on the heels of a period of accelerating business momentum for the Canadian aerospace manufacturer. MDA Space recently reported record revenues of US$499 million, a year‑over‑year increase of 44 per cent, underscoring rising demand across its robotics, satellites, and space systems business lines.
About MDA Space
MDA Space Ltd. is one of Canada’s largest and most established space technology companies, best known for robotics systems such as Canadarm and its involvement in government and commercial satellite missions. The company has been expanding rapidly into next‑generation satellite manufacturing, Earth observation systems, and deep-space robotics.
With its new cross‑border public offering and planned NYSE listing, MDA Space is positioning itself more firmly within the global space technology and capital markets ecosystem at a time when demand for commercial and defence space capabilities continues to surge.
MDA Space stock (TSX:MDA) last traded at C$45.44 and has risen more than 60 per cent since this time last year.
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