MDA Space Ltd. reports beneficial ownership of 9,708,152 shares of common stock, representing 7.0% of the class.
The filing names Connor, Clark & Lunn Investment Management Ltd. as the reporting person and shows sole voting power for 8,975,132 shares and sole dispositive power for 9,708,152 shares. The filing is signed by the Chief Compliance Officer on 05/11/2026.
MDA Space Ltd. reports beneficial ownership of 9,708,152 shares of common stock, representing 7.0% of the class.
The filing names Connor, Clark & Lunn Investment Management Ltd. as the reporting person and shows sole voting power for 8,975,132 shares and sole dispositive power for 9,708,152 shares. The filing is signed by the Chief Compliance Officer on 05/11/2026.
MDA Space delivered strong growth in Q1 2026, with revenue rising to $464.1 million from $351.0 million, driven by higher work volumes across all business areas, especially the Telesat Lightspeed and Globalstar constellation programs.
Gross profit increased to $115.2 million and gross margin improved to 24.8% from 22.7%. Adjusted EBITDA climbed to $90.6 million and adjusted diluted EPS to $0.38, both up more than 30% year-over-year, while IFRS net income was $29.6 million, slightly below last year’s $32.9 million.
Backlog stood at $3,692.7 million as of March 31, 2026, down from $4,838.4 million a year earlier as the company converted prior orders into revenue and recorded lower Q1 2026 order bookings of $143.9 million versus $803.9 million. Cash rose sharply to $544.0 million, supported by $441.5 million of net proceeds from a share issuance tied to its initial public offering and NYSE listing.
MDA Space delivered strong growth in Q1 2026, with revenue rising to $464.1 million from $351.0 million, driven by higher work volumes across all business areas, especially the Telesat Lightspeed and Globalstar constellation programs.
Gross profit increased to $115.2 million and gross margin improved to 24.8% from 22.7%. Adjusted EBITDA climbed to $90.6 million and adjusted diluted EPS to $0.38, both up more than 30% year-over-year, while IFRS net income was $29.6 million, slightly below last year’s $32.9 million.
Backlog stood at $3,692.7 million as of March 31, 2026, down from $4,838.4 million a year earlier as the company converted prior orders into revenue and recorded lower Q1 2026 order bookings of $143.9 million versus $803.9 million. Cash rose sharply to $544.0 million, supported by $441.5 million of net proceeds from a share issuance tied to its initial public offering and NYSE listing.
MDA Space Ltd. reported strong Q1 2026 growth and completed a major U.S. equity offering. Revenue rose to $464.1 million, up 32.2% from Q1 2025, with gross margin improving to 24.8%. Adjusted EBITDA increased to $90.6 million, while adjusted diluted EPS reached $0.38.
Net income was $29.6 million versus $32.9 million a year ago, mainly due to higher amortization of intangibles from acquisitions. Backlog was $3,692.7 million as the company continued converting orders into revenue. Cash climbed to $544.0 million and long‑term debt fell to $244.7 million.
During March 2026, MDA Space completed its initial public offering in the United States and NYSE listing, issuing 11,180,136 common shares at US$30.50 for net proceeds of $441.5 million. This helped move the company to a net cash position of $(299.3) million and a net debt to adjusted TTM EBITDA ratio of (0.9)x.
MDA Space Ltd. reported strong Q1 2026 growth and completed a major U.S. equity offering. Revenue rose to $464.1 million, up 32.2% from Q1 2025, with gross margin improving to 24.8%. Adjusted EBITDA increased to $90.6 million, while adjusted diluted EPS reached $0.38.
Net income was $29.6 million versus $32.9 million a year ago, mainly due to higher amortization of intangibles from acquisitions. Backlog was $3,692.7 million as the company continued converting orders into revenue. Cash climbed to $544.0 million and long‑term debt fell to $244.7 million.
During March 2026, MDA Space completed its initial public offering in the United States and NYSE listing, issuing 11,180,136 common shares at US$30.50 for net proceeds of $441.5 million. This helped move the company to a net cash position of $(299.3) million and a net debt to adjusted TTM EBITDA ratio of (0.9)x.
MDA Space Ltd. filed a Form 6-K including an addendum to its Management Information Circular, updating shareholders on board gender diversity following a recent director change. Director Alison Alfers resigned effective March 3, 2026 due to unexpected family circumstances, reducing the proportion of women on the board.
Before her resignation, three of the nine directors (33%) identified as women. Of the seven directors proposed for election at the May 7, 2026 annual meeting, two (29%) identify as women, leaving the board just below the 30% threshold expected by some Toronto Stock Exchange investors and proxy advisory firms. The company states it intends to return to at least 30% women directors by its 2027 annual shareholders’ meeting and emphasizes that gender diversity is one of several factors considered in building an effective board.
MDA Space Ltd. filed a Form 6-K including an addendum to its Management Information Circular, updating shareholders on board gender diversity following a recent director change. Director Alison Alfers resigned effective March 3, 2026 due to unexpected family circumstances, reducing the proportion of women on the board.
Before her resignation, three of the nine directors (33%) identified as women. Of the seven directors proposed for election at the May 7, 2026 annual meeting, two (29%) identify as women, leaving the board just below the 30% threshold expected by some Toronto Stock Exchange investors and proxy advisory firms. The company states it intends to return to at least 30% women directors by its 2027 annual shareholders’ meeting and emphasizes that gender diversity is one of several factors considered in building an effective board.
MDA Space Ltd. completed a marketed public offering of 9,836,065 common shares at an offering price of US$30.50 per share, generating aggregate gross proceeds of approximately US$300 million. This transaction represents the company’s initial public offering in the United States.
The common shares are listed on the New York Stock Exchange under the symbol “MDA” and continue to trade on the Toronto Stock Exchange under the same symbol. The offering was led by J.P. Morgan and RBC Capital Markets, with a large syndicate of global banks, and includes a 30‑day over-allotment option for up to 1,475,409 additional shares.
MDA Space plans to use the net proceeds to pursue growth strategies, expand its customer base and solutions, support existing customers, and explore strategic opportunities such as acquisitions or investments, while also retaining flexibility to allocate a portion to general corporate purposes, including partial repayment of existing credit facilities.
MDA Space Ltd. has completed its initial public offering in the United States and listed its common shares on the New York Stock Exchange. The company issued and sold 9,836,065 common shares at US$30.50 per share, raising gross proceeds of approximately US$300 million.
MDA Space plans to use the net proceeds to pursue growth strategies, including expanding its customer base and solutions, supporting existing customers, and pursuing strategic opportunities such as acquisitions or investments. A portion may also be used for general corporate purposes, including repaying amounts under existing credit facilities.
MDA Space Ltd. has entered an underwriting agreement to issue and sell 9,836,065 common shares to a syndicate led by J.P. Morgan Securities LLC and RBC Dominion Securities Inc. at a purchase price of $30.50 per share.
The company has also granted the underwriters a 30‑day over‑allotment option to buy up to 1,475,409 additional common shares on the same terms. The closing of the base offering is scheduled for March 16, 2026, with the shares expected to be listed on both the NYSE and TSX, subject to customary conditions.
As of March 10, 2026, MDA Space had 126,563,893 common shares outstanding, so this equity offering represents a meaningful new share issuance that will provide additional capital while diluting existing holders to some extent.
MDA Space Ltd. files a cross‑border offering to sell US$300,000,000 of Common Shares. The Prospectus Supplement to the Company’s short form base shelf prospectus qualifies an initial public offering in the United States and a new issue in Canada of Common Shares, with an Over‑Allotment Option equal to 15% of the Offered Shares.
The Offered Shares will be listed on the TSX and the NYSE under the trading symbol “MDA” pending satisfaction of listing requirements. As at the date of the Prospectus Supplement, 126,563,893 Common Shares are issued and outstanding. Proceeds are to be used for growth strategies, potential acquisitions, general corporate purposes and may include repayment of amounts under the Company’s Syndicated Credit Facility.