MDA Space Ltd. (TSX: MDA) (NYSE: MDA) has increased the size of its previously announced bought deal offering of common shares, according to a press release from the Toronto-based company.

Under an amended agreement with a syndicate of underwriters led by BMO Capital Markets and RBC Capital Markets, MDA Space will issue 23,000,000 common shares at US$35.60 per share, raising aggregate gross proceeds of approximately US$819 million. The offering was originally sized at 20,000,000 shares.

MDA Space has also granted underwriters an over-allotment option to purchase up to an additional 15% of the shares issued in the offering at the same price. The option is exercisable within 30 days of closing.

The company said it intends to use the net proceeds to fund a portion of the cash purchase price for its previously announced acquisition of approximately a 70% interest in Collecte Localisation Satellites (CLS), announced on July 8, 2026. Proceeds may also be used to repay a portion of CLS's existing debt and cover related transaction expenses.

The offering is expected to close on or about July 14, 2026, subject to customary closing conditions, including listing approvals from the NYSE and TSX. The closing of the offering is not conditional on the completion of the acquisition, and vice versa. If the acquisition does not close, MDA Space said it intends to use the proceeds for general growth initiatives, which may include other acquisitions or investments.