MDA Space seeks to raise $300 million in an IPO in New York

Investing.com - MDA Space Ltd. is seeking to raise $300 million through an initial public offering in the United States, which will provide the Toronto-listed robotics and satellite company with a U.S. stock ticker. The company filed documents with the U.S. Securities and Exchange Commission on Monday but did not disclose the number of shares to be issued or the price per share.

MDA Space (TSX:MDA) has a market capitalization of CAD 5.6 billion ($4.1 billion) in Toronto. On Monday, the last trading day before the filing, the company’s stock closed at CAD 42.05 or $30.98 on the Toronto Stock Exchange. The company has applied to list its common shares on the New York Stock Exchange under the ticker “MDA.”

The company plans to use the net proceeds to pursue growth strategies, including expanding its customer base and solutions, supporting existing customer growth, and exploring strategic opportunities that may include acquisitions or investments. MDA Space may also allocate part of the proceeds for general corporate purposes, including repaying outstanding amounts under its syndicated bank credit facility.

The offering will be conducted simultaneously in Canada and the U.S… J.P. Morgan, RBC Capital Markets, BMO Capital Markets, Deutsche Bank Securities, Jefferies, Scotiabank, and Canaccord Genuity will serve as underwriters. The underwriters have a 30-day option to purchase additional shares to cover over-allotments.

MDA Space has three core business areas: satellite systems, robotics and space operations, and geospatial intelligence. As of December 31, 2025, approximately 70% of the company’s revenue comes from commercial clients, and about 30% from government clients.

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