🟢 MDA Space is trading 4.7% up today on increased financing for CLS acquisition

MDA Space is trading 4.7% up at $31.40 in pre-market following news of an upsized financing round to fund a major strategic acquisition.

• The company increased its bought-deal equity offering to approximately 23 million shares at US$35.60 to support an $819 million capital raise.
• Proceeds will fund the acquisition of a 70% stake in CLS, a French satellite firm specializing in AI-driven Earth observation analytics.
• Gains are further supported by a positive trend in broader index futures, providing a favorable environment for space and technology stocks.