MDA Space Ltd. has taken formal steps to raise up to $300 million through an initial public offering in the United States, according to a filing with the U.S. Securities and Exchange Commission made on Monday. The company, which is already listed on the Toronto Stock Exchange, did not specify in its filing how many shares it plans to offer in the U.S. or the price per share.
On the Toronto exchange the company trades under the symbol MDA and carries a market capitalization of C$5.6 billion, which the filing converts to about $4.1 billion. Shares closed at C$42.05, or US$30.98, on the last trading day before the SEC filing.
Alongside seeking fresh capital, MDA has applied to have the shares offered in the transaction, as well as its currently outstanding common shares, listed on the New York Stock Exchange under the trading symbol "MDA." The offering is planned to be made concurrently in Canada and the United States.
In its prospectus, the company outlined the intended uses for the net proceeds from the offering. Those uses include pursuing growth strategies such as expanding its customer base and broadening its suite of solutions, supporting the growth of existing customers, and pursuing strategic opportunities that could include acquisitions or investments. MDA also indicated that a portion of any proceeds may be applied to general corporate purposes, explicitly including repayment of amounts outstanding under its syndicated credit facility.
The group of underwriters for the offering is led by J.P. Morgan and includes RBC Capital Markets, BMO Capital Markets, Deutsche Bank Securities, Jefferies, Scotiabank and Canaccord Genuity. These underwriters have been granted a 30-day option to purchase additional shares to cover any over-allotments.
MDA Space organizes its operations into three core business areas: Satellite Systems; Robotics & Space Operations; and Geointelligence. The company reported that, as of December 31, 2025, roughly 70% of its revenue came from commercial customers while government customers comprised about 30% of revenue.
Contextual note on information limits - The filing provides the broad outlines of the offering and uses of proceeds but does not disclose the specific share count or the per-share price that would determine how many of the company s outstanding shares will be sold to meet the $300 million target.