MDA Space Shares Fall on CLS Acquisition, Increased Bought Deal Offering of $819M

Dow Jones07-09

Shares of MDA Space fell Thursday morning after it said it will acquire a majority interest in Collecte Localisation Satellites and raise more money to pay for it.

Shares trading in New York were 7.2% lower at $35.85.

Late Wednesday, the Canadian aerospace and defense company said it will acquire a 70% interest in Collecte Localisation Satellites, or CLS, a provider of artificial intelligence-driven Earth observation services and satellite solutions for 920 million Canadian dollars ($649.1 million).

The company is seeking to create a vertically integrated geospatial business aimed at accelerating growth for both businesses while preserving critical sovereign capabilities and capacity for France and Canada.

On Thursday, MDA said underwriters agreed to acquire an extra three million shares at a price of $35.60 apiece, in part to pay for the new acquisition. At that price, the value of the extra shares are worth about $106.8 million. It expects to raise about $819 million in the upsized bought deal offering.

The original amount of shares the company was offering was 20 million.

The stock has performed strongly in 2026 so far, rising about 85% year-to-date. The stock is up 26% over the last 52 weeks.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

July 09, 2026 10:08 ET (14:08 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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