BRAMPTON, Ont. (MDA PR) — MDA Ltd. (“MDA” or the “Company”), a leading provider of advanced technology and services to the burgeoning global space industry, today announced that, further to its recently completed initial public offering of common shares (the “Common Shares”) of the Company (the “Offering”), the over-allotment option granted to the Underwriters (as defined below) to purchase up to an additional 4,285,725 Common Shares at a price of $14.00 per Common Share (the “Over-Allotment Option”) was exercised in full, generating additional gross proceeds to the company of approximately $60 million.
Pursuant to the Offering, MDA issued 28,571,500 Common Shares at a price of $14.00 per Common Share for gross proceeds to the Company of approximately $400 million.
BRAMPTON, Ont., March 22, 2021 (MDA PR) — MDA Ltd. (“MDA” or the “Company”), a leading technology and service provider to the burgeoning global space industry, today announced that it has filed, and obtained a receipt for, a preliminary base PREP prospectus (the “Preliminary Prospectus”) with the securities regulatory authorities in each of the provinces and territories in Canada for a proposed initial public offering of common shares of MDA (the “Offering”). The gross proceeds of the Offering are expected to be $500 million. The number of common shares to be sold and price per common share have not yet been determined.
The Offering is being made through a syndicate of underwriters led by BMO Capital Markets, Morgan Stanley Canada Limited and Scotiabank, as joint bookrunners, with Barclays Capital Canada Inc., RBC Dominion Securities Inc., Canaccord Genuity Corp., CIBC World Markets Inc., National Bank Financial Inc. and Stifel Nicolaus Canada Inc., as underwriters.
CAMBRIDGE, ON, March 3, 2021 (exactEarth PR) — exactEarth Ltd. (“the Company”) (TSX: XCT), announces that it has signed an agreement with MDA to provide advanced Satellite-AIS data services as part of MDA’s recently announced Dark Vessel Detection (“DVD”) program for the Government of Canada. The DVD program is intended to detect and identify vessels that have switched off their AIS transponders and are engaged in illegal, unreported and unregulated (“IUU”) fishing.
IUU fishing is a global problem that results in significant economic loss – estimated at $23 billion per year by the Department of Fisheries and Oceans Canada – and leads to considerable damage to the world’s fishing population and habitat. exactEarth is part of the MDA-led project that is supporting the Government of Canada’s commitment to help deter IUU fishing by using satellite technology to locate so-called “dark targets”, those whose AIS transponders have been switched off. Under the terms of its agreement with MDA, exactEarth will provide advanced global Satellite-AIS data services to support pilot trials of the DVD program.
BRAMPTON, Ont. (MDA PR) — MDA is pleased to announce the appointment of Vito Culmone as the company’s new Chief Financial Officer (CFO). Mr. Culmone will play an integral role on the executive team with his deep expertise in finance leadership and strategic planning. He will assume his new position at MDA in early March.
Mr. Culmone brings 30 years of financial and operational expertise to MDA, having served as CFO for the last 14 years in a number of large publicly traded Canadian companies in a diverse range of sectors. He has a proven track record with a focus on building sustained shareholder value.
BRAMPTON, Ont. (MDA PR) — MDA today announced that it has been awarded a three-year contract with the Government of Canada Department of Fisheries and Oceans and Defence Research and Development Canada to use satellite technology to detect vessels engaging in illegal, unreported and unregulated (IUU) fishing. The contract will run for a period of three years.
The Dark Vessel Detection (DVD) program uses satellite technology to locate and track vessels that have switched off their location transmitting devices in an attempt to evade monitoring, control and surveillance.
BRAMPTON, Ont. (MDA PR) — Next Generation Manufacturing Canada (NGen), the industry-led organization leading Canada’s Advanced Manufacturing Supercluster, has co-funded a private sector consortium led by MDA that will enable the integration of artificial intelligence, industry 4.0, data sharing, and collaborative robotics into highly flexible, adaptable manufacturing environments.
MDA along with partners Promark Electronics (Montreal, QC) and AV&R (Saint-Bruno, QC) seek to transform the Canadian manufacturing landscape by applying advanced manufacturing technologies into production environments where constant changes and the ability to maintain flexibility are essential competitive advantages.
MONTREAL, February 18, 2021 (MDA PR) — MDA announced today that it has been selected to provide one of the critical technology subsystems on Telesat Lightspeed, the Low Earth Orbit (LEO) satellite broadband network recently unveiled by Telesat, one of the world’s largest satellite operators. With advanced antenna design and manufacturing capabilities at its modern facility in Ste-Anne-de-Bellevue, this job-creating project enjoys the support of the Government of Quebec through a financial contribution.
MDA will develop the Direct Radiating Array (DRA), a revolutionary phased array, electronically-steered multi-beam antenna that will provide unlimited coverage flexibility and agility through advanced beam-forming technology. This configuration will achieve any-beam, anytime, anywhere coverage over the entire visible Earth. This new technology represents a major and key investment for the success of MDA’s Satellite Systems business, as it is expected that most LEO, Medium Earth Orbit (MEO) and geostationary (GEO) satellite markets will migrate to these technologies in the future. MDA will deliver over 1000 units. MDA is also in advanced discussions with Thales Alenia Space for the Lightspeed satellites’ final assembly and manufacturing in Québec.
BRAMPTON, Ont. (MDA PR) — MDA is excited to announce that the company has embarked on a major new initiative to build a commercial Earth observation satellite mission which will serve to extend MDA’s market-leading geospatial data, products and analytics services business well into the future.
Colorado’s nine-member Congressional delegation has asked President Joe Biden to suspend the move of the U.S. Space Command from Colorado Springs to Huntsville, Ala., until the administration conducts a full review of a decision made during the waning days of the Trump Administration.
“This move undermines our ability to respond to the threats in space and is disruptive to the current mission. Additionally, significant evidence exists that the process was neither fair nor impartial and that President [Donald] Trump’s political considerations influenced the final decision,” the delegation said in a Jan. 26 letter to the president.
The U.S. Air Force announced the move of the U.S. Space Command from Peterson Air Force Base in Colorado Springs to the Redstone Arsenal in Huntsville on Jan. 13, one week before Trump left office and a week after Congress certified the election of Democrat Joe Biden.
BRAMPTON, Ont. (MDA PR) — MDA today announced that it has been awarded a contract by the Canadian Space Agency (CSA) to provide satellite flight operations and data management services for the Agency’s Earth observation and space situational awareness satellite missions.
MDA will provide spacecraft health monitoring and control, operational analysis, basic system maintenance, data order handling, image quality control and data processing and archiving for the RADARSAT Constellation Mission (RCM), SCISAT and NEOSSat from the CSA’s Multi-Mission Control Centre in Longueuil, Quebec.
BRAMPTON, Ont. (MDA PR) — MDA is pleased to welcome Amer Khouri as the company’s new Vice President of Satellite Systems. As the leader for this business, Mr. Khouri will be responsible for all business area activities including successful execution of existing programs and the continued growth of MDA’s Satellite Systems business, which is based in Montreal, Canada.
Mr. Khouri has an extensive 25-year career in general management, corporate and business development, strategy, product management and marketing. He is a proven leader with a strong track record building and transforming global organizations, developing and implementing winning growth strategies, and executing and integrating acquisitions and business ventures.
TUCSON, Ariz. — A team of scientists led by Christopher Hamilton of the University of Arizona is gearing up to send drones on exploration missions across a vast lava field in Iceland to test a next-generation Mars exploration concept.
Hamilton is the principal investigator on a project that has been awarded a $3.1 million NASA grant to develop a new concept combining rovers and unmanned aerial systems, commonly known as drones, to explore regions of the red planet that have been previously inaccessible. These new Rover–Aerial Vehicle Exploration Networks will be tested in Iceland to explore volcanic terrains similar to those observed on Mars.
LONGUEUIL, Que. (CSA PR) — It’s an understatement to say that 2020 was an exceptional year. As the year draws to a close, here’s a look at some of the most compelling, inspirational and incredible moments for Canada in space. Happy New Year!
Saint-Hubert, Quebec (CSA PR) — Since its installation on the International Space Station (ISS) in 2001, Canadarm2 has performed hundreds of important tasks, including assembling the Station’s modules, keeping the ISS in shipshape, and lending astronauts a hand during spacewalks.
BRAMPTON, Ont. (MDA PR) — MDA announced today that it has been awarded a contract from the Canadian Space Agency (CSA) to develop Canadarm3, the third generation Artificial Intelligence (AI)-based robotic system destined for “Gateway”, a lunar-orbiting international space station. The contract involves the award of Phase A of the Canadarm3 program, with options for the follow-on phases.