Jul. 9 at 12:30 AM
MDA Space Ltd. announced a
$712 million equity offering to help finance its planned acquisition of a roughly 70% stake in French satellite services company Collecte Localisation Satellites (CLS). The company agreed to sell 20 million common shares at
$35.60 each through an underwriting syndicate led by BMO Capital Markets and RBC Capital Markets, with underwriters holding a 15% over-allotment option.
The net proceeds will primarily fund the cash purchase of CLS, valued at approximately €567 million (
$920 million), while also providing flexibility to repay CLS debt or cover financing and transaction costs if needed. The share offering is expected to close around July 14, 2026, subject to customary conditions and stock exchange approvals, and is not contingent on the acquisition closing.
$MDA