MDA Space Secures US$300M in US IPO by Selling 9.8M Shares
MDA Space raised US$300 million by issuing 9,836,065 common shares at US$30.50 apiece in its initial US public offering, now listed on the NYSE. Net proceeds will fund growth strategies, including customer expansion, strategic acquisitions and partial debt repayment.
1. Offering Details
MDA Space issued 9,836,065 common shares at US$30.50 each for gross proceeds of US$300 million in its initial US public offering and listing on the NYSE.
2. Underwriting Syndicate
The offering was led by J.P. Morgan and RBC Capital Markets as joint lead bookrunners, with BMO Capital Markets, Deutsche Bank Securities, Jefferies, Scotiabank and Canaccord Genuity as joint active bookrunners.
3. Planned Use of Proceeds
MDA Space intends to deploy net proceeds to expand its customer base, support existing clients, pursue strategic acquisitions or investments and repay part of its outstanding credit facility debt.