AcquisitionsJul 10, 2026, 06:08 AM
MDA Space to Raise $818.8M for CLS Acquisition via Share Offering
AI Summary
MDA Space Ltd. has entered into an amended underwriting agreement to issue and sell 23,000,000 common shares at $35.60 per share, aiming to raise $818.8 million. The proceeds are primarily intended to fund the acquisition of approximately 70% of C3 Holding, the parent company of Collecte Localisation Satellites (CLS). An over-allotment option for an additional 3,450,000 shares could increase the total to $941.6 million. The offering and the CLS Acquisition are not mutually conditional, with alternative uses for proceeds if the acquisition does not proceed.
Key Highlights
- MDA Space to issue 23,000,000 common shares.
- Offering price set at $35.60 per common share.
- Total proceeds from offering expected to be $818.8 million.
- Over-allotment option for up to 3,450,000 additional shares.
- Potential total raise of $941.6 million if option fully exercised.
- Proceeds primarily to fund 70% acquisition of C3 Holding (CLS).
- Offering closing date scheduled for July 14, 2026.
- Underwriters' commission for the offering is 4.0%.
Price Impact
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