6-K
Foreign issuer report
✓ VerifiedMDA Space made a firm, irrevocable offer to acquire an approximately 70% interest in Collecte Localisation Satellites (CLS) for about euro567 million (C$920 million) in cash.
Filed Jul 20, 2026 · 07:50 ET
Summary
- On July 8, 2026, MDA Space announced a firm and irrevocable offer to acquire a majority interest in Collecte Localisation Satellites (CLS) for approximately euro567 million (C$920 million) in cash, subject to adjustments.
- At completion, MDA will acquire an approximately 70% interest in CLS while the Centre national d'etudes spatiales, the French space agency, retains approximately 30%.
- If CLS is unable to refinance its existing indebtedness at closing, MDA will fund approximately euro198 million to retire that indebtedness.
- Underwriters agreed to purchase 20,000,000 common shares at US$35.60 per share on a bought deal basis, then increased the Offering to 23,000,000 shares for aggregate gross proceeds of US$819 million, with the Offering completed on July 14, 2026.
- MDA granted the underwriters an over-allotment option to purchase up to an additional 3,450,000 common shares, representing 15% of the total shares issued.
- MDA arranged US$875,000,000 in debt financing underwritten by Bank of Montreal, The Bank of Nova Scotia and Royal Bank of Canada, and the acquisition is targeted for completion by the end of 2026 or early 2027.
Key facts
- Acquisition price
- approximately euro567 million (C$920 million)
From the filing for Acquisition price
“acquire a majority interest in Collecte Localisation Satellites (" CLS ") for approximately €567 million (C$920 million) in cash”
- Interest acquired
- approximately 70%
From the filing for Interest acquired
“the Company will acquire an approximately 70% interest in CLS from the shareholders of CLS' parent company”
- CNES retained interest
- approximately 30%
From the filing for CNES retained interest
“the French space agency, will retain an approximately 30% interest in CLS”
- Debt to retire
- approximately euro198 million
From the filing for Debt to retire
“the Company will fund approximately €198 million to retire such existing indebtedness”
- Offering size and proceeds
- 23,000,000 Common Shares for aggregate gross proceeds of US$819 million
From the filing for Offering size and proceeds
“the Underwriters agreed to increase the size of the Offering to 23,000,000 Common Shares for aggregate gross proceeds of US$819 million”
- Offering price
- US$35.60 per Common Share
From the filing for Offering price
“20,000,000 common shares of the Company (the " Common Shares ") at a price of US$35.60 per Common Share”
- Over-allotment option
- up to an additional 3,450,000 Common Shares, representing 15%
From the filing for Over-allotment option
“to purchase up to an additional 3,450,000 Common Shares, representing 15% of the total number of Common Shares issued in connection with the Offering”
- Debt financing
- US$875,000,000
From the filing for Debt financing
“irrevocable financing arrangements consisting of an eight hundred and seventy five million US dollar (US$875,000,000) debt financing arranged and underwritten by Bank of Montreal, The Bank of Nova Scotia and Royal Bank of Canada”
Why it mattersMDA Space is acquiring control of French satellite data and services provider CLS, funded by an US$819 million equity offering and up to US$875 million in debt financing. The deal remains subject to regulatory approvals and French employee consultation procedures.
- Filed
- Jul 20, 2026
- Accepted
- 2026-07-20 11:50Z
- Period
- Jul 20, 2026
- Accession no.
- 0001104659-26-084876
- Size
- 860 KB
- Index
- Filing index