🔴 MDA Space is trading 4% down today on an upsized dilutive share offering for the CLS acquisition

MDA Space is trading 4% down today at $33.97 as investors digest a large, dilutive equity raise tied to the CLS acquisition.

• The company is raising approximately US$819 million through an upsized bought deal of 23 million shares priced at US$35.60 per share.
• The capital will fund a C$920 million majority stake in CLS, following an initial 8–9% share price decline when the deal was first announced.