MDA Space, a Canadian provider of satellite systems, space robotics, and geospatial intelligence, raised $300 million by offering 9.8 million shares at $30.50, below the as-converted last close of its shares on the Toronto Stock Exchange ($33.41).
MDA Space develops and provides technologies and services used in space missions, including satellite systems, robotics, and geospatial intelligence solutions. Its operations are organized around three main segments: Satellite Systems, which designs and builds communications satellites and related subsystems; Robotics & Space Operations, which develops robotic systems and operational technologies used in space exploration and on-orbit servicing; and Geointelligence, which provides Earth observation data, satellite ground infrastructure, and analytics services. MDA Space works with government space agencies, defense organizations, and commercial aerospace companies to support satellite communications, scientific missions, and Earth observation applications.
MDA Space plans to list on the NYSE under the symbol MDA. J.P. Morgan, RBC Capital Markets, BMO Capital Markets, Deutsche Bank, Jefferies, Scotia Capital, and Canaccord Genuity acted as joint bookrunners on the deal.
