Mentioned:
One of Canada’s most successful aerospace companies is officially making their Wall Street debut.
What’s happening:
- MDA Space (NYSE: MDA) has officially raised $300M USD in a new equity financing and begun trading on the New York Stock Exchange
By the numbers:
- MDA Space will issue roughly 9.84M common share at a price of $30.50 USD as part of the new financing round
Why it matters:
- MDA Space is one of the most advanced aerospace companies founded in Canada and is a leading developer of both space robotics and satellite systems
Going deeper:
- MDA Space has notably won large commercial contracts with the Canadian Space Agency and multiple Government of Canada departments for Earth observation satellites and radar missions
- NASA also previously selected MDA Space to design and build Canadarm3, which is a next generation robotic arm to be used at NASA’s Lunar Gateway space station which orbits the Moon
