Simpson Thacher represented the underwriters, led by BMO Capital Markets and RBC Capital Markets, in connection with the registered follow-on offering by MDA Space Ltd. (“MDA Space”) of 23,000,000 shares of its common stock. MDA Space also granted the underwriters a 30-day option to purchase up to an additional 3,450,000 of its common stock. The offering raised approximately $819 million in gross proceeds. MDA Space intends to use the net proceeds of the offering to fund a portion of the purchase price of its acquisition of approximately a 70% interest in Collecte Localisation Satellites, a global leading provider of AI-driven Earth observation value-added services and satellite IoT solutions.
Building the space between proven and possible, MDA Space is a trusted mission partner to the global defence and space industry. A robotics, satellite systems and geointelligence pioneer with a 55-year+ story of world firsts and more than 450 missions, MDA Space is a global leader in communications satellites, Earth and space observation, and space exploration and infrastructure.
The Simpson Thacher team included Roxane Reardon, Evan Zuckerman, Jessica Ryan, Jacob Broz and Ye Joo Lee (Capital Markets); Jon Cantor and Jemma Li (Tax); Ron Ben-Yehuda, Chandler Gerard-Reimer and Jennifer Park (Intellectual Property); George Gerstein and Christopher Torikoglu (Executive Compensation and Employee Benefits); and Jennie Getsin (FINRA and Blue Sky).