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MDA Space Upsizes Bought Deal Offering to US$819 Million from US$712 Million

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MDA Space (MDA.TO) agreed to increase the size of its previously announced bought deal offering to US$819 million from US$712 million, the space technology company said Thursday.

Under the amended terms, the underwriters agreed to purchase 23 million common shares at US$35.60 each, up from 20 million shares previously. MDA Space also granted underwriters a 15% overallotment option at the same price.

The company plans to use the proceeds to partially fund its planned acquisition of a 70% interest in Collecte Localisation Satellites (CLS), as well as fund the repayment of CLS' existing indebtedness.

The offering is expected to close on or about July 14.

Price: $51.27, Change: $-3.63, Percent Change: -6.61%

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