MDA Space closes upsized offering

MDA Space Ltd. closed its upsized bought deal offering of 23,000,000 common shares at US$35.60 per share, raising approximately US$819 million in gross proceeds. The offering was underwritten by a syndicate led by Bank of Montreal — BMO Capital Markets and Royal Bank of Canada — RBC Capital Markets, with J.P. Morgan, Scotiabank, and BofA Securities as joint active bookrunners. MDA Space granted underwriters an over-allotment option for up to an additional 15% of shares. The net proceeds will be used to fund a portion of the cash purchase price for MDA Space's acquisition of approximately a 70% interest in Collecte Localisation Satellites (CLS), as previously announced on July 8, 2026. Proceeds may also be used to repay CLS's existing indebtedness if debt financing cannot be arranged, and to cover related fees and expenses.