MDA Space raises $819M in share offering to fund CLS acquisition

MDA Space Ltd. (TSX: MDA) (NYSE: MDA) closed a bought deal offering of 23,000,000 common shares at US$35.60 per share, raising approximately US$819 million in gross proceeds, according to a company statement.

The offering was conducted in Canada and the United States through a syndicate led by BMO Capital Markets and RBC Capital Markets as joint lead bookrunners, with J.P. Morgan, Scotiabank, and BofA Securities serving as joint active bookrunners.

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

The company 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), which was announced July 8, 2026. Net proceeds may also be used to repay all or a portion of CLS's existing debt if the company is unable to arrange separate debt financing, as well as to cover related financing fees and transaction expenses.

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