On July 8, 2026, MDA Space Ltd. entered into a firm offer to acquire a majority interest (approximately 70%) in Collecte Localisation Satellites (CLS) for approximately €567 million (C$920 million) in cash. To fund the acquisition and potentially retire €198 million of CLS's existing debt, the company completed a bought deal equity offering on July 14, 2026, issuing 23,000,000 common shares at US$35.60 per share for aggregate gross proceeds of US$819 million. The offering included an over-allotment option for up to 3,450,000 additional shares. The acquisition is expected to close by late 2026 or early 2027, subject to regulatory approvals and employee consultation procedures. MDA Space operates in the space industry, providing satellite systems and space robotics.
