MDA Space Inc. MDA-T plans to raise US$300-million in a stock issue and list its shares on the New York Stock Exchange as the Canadian satellite manufacturer seeks opportunities for growth.
Listed on the Toronto Stock Exchange, MDA was trading at $44.17 after markets closed Tuesday evening. The company’s stock has risen in recent months, following a dip last year after MDA lost a major satellite manufacturing contract.
The company said it plans to price the new shares on the NYSE “in the context of the market.”
MDA said it will use the proceeds to pursue its growth strategies, including expanding its customer base, supporting the growth of existing customers and following other strategic opportunities, which may include acquisitions or investments.
The company said it may also use a portion of the net proceeds for general corporate purposes, including the repayment of a portion of debt. The company had $272-million in long-term debt as of the end of 2025, according to recent financial filings.
In the last quarter of 2025, ended Dec. 31, MDA reported revenues of nearly $500-million, up from $346-million the year before. The company said it had a contract backlog worth $4-billion, and a pipeline of $40-billion.
Recently, MDA said it would break out its defence-related operations into a new division, 49North, given the rise in market demand for dual-use products. MDA has signed a partnership agreement to deliver military satellite communications for Canadian forces in the Arctic, and a contract from the U.S. Missile Defense Agency for the Scalable Homeland Innovative Enterprise Layered Defense (SHIELD) program.
J.P. Morgan and RBC Capital Markets are acting as joint lead active bookrunners. BMO Capital Markets, Deutsche Bank Securities, Jefferies, Bank of Nova Scotia and Canaccord Genuity Group Inc. are acting as joint active bookrunners.
