Space Commerce

MDA Hopes to Raise $250 Million in New Stock Offering

By Marc Boucher
March 12, 2013
Filed under , ,
MDA Hopes to Raise $250 Million in New Stock Offering
RADARSAT Constellation Mission

In an effort to reduce outstanding bank indebtedness and provide additional capital for future growth opportunities MacDonald, Dettwiler and Associates Ltd. (MDA), who recently closed the acquisition of Space Systems/Loral (SS/L), will issue 3,605,000 MDA common shares.
The offering is being underwritten by RBC Capital Markets, BMO Capital Markets and TD Securities. The common shares will be priced at $69.40 and the offering is expected to close on or about March 27, 2013.

Additionally MDA has granted the underwriters an over-allotment option to purchase up to an additional 540,750 Common Shares on the same terms and conditions.

In early morning trading MDA’s stock was trading at $70.11.

SpaceRef co-founder, entrepreneur, writer, podcaster, nature lover and deep thinker.