Exchange Bulletin
MDA Ltd. (MDA) To Trade On 兔子先生
March 30, 2021
| Issuer: | MDA Ltd. (the "Company") |
| Security: | Common shares (the "Common Shares") |
| Symbol: | MDA |
| Transaction: | An application has been conditionally approved by 兔子先生 ("TSX") for the listing of Common Shares of the Company, subject to completion of a proposed initial public offering (the "Offering") of these securities as described in the Company's preliminary base PREP prospectus dated March 22, 2021. It is anticipated that, in the next few days, the Company will file a final base PREP prospectus and a supplemented PREP prospectus for its Offering of Common Shares. As soon as possible after the final base PREP prospectus is cleared by the relevant securities regulatory authorities and a supplemented PREP prospectus is filed, TSX will post the Common Shares for trading on an "if, as and when issued" basis under the trading information set out below. Before the Common Shares are posted for trading on such basis, TSX will issue a trader note confirming both the pricing and the expected closing date for the Offering. If and when the Offering closes, the Common Shares will be listed on TSX. |
| Trading currency: | CDN$ |
| Temporary market maker: | RBC Capital Markets |
| Other markets: | None |
| Settlement: | Subject to the closing of the Offering: (i) all trades in "MDA" on and before the third trading day preceding the closing date will be for special settlement on the closing date and will appear on the Settlement Report from CDS Clearing and Depository Services Inc. ("CDS"); and (ii) all trades in "MDA" for each of the two trading days preceding the closing date will be for special settlement two business days after the trade date and will appear on the Settlement Report from CDS. If the Offering does not close, all of the "if, as and when issued" trades will be cancelled. No securities will be delivered and no money will be owed by purchasers to sellers. Parties who are entitled to receive Common Shares under the Offering may sell such securities in the "if, as and when issued" market without being subject to restrictions on short sales. Parties who are not entitled to receive Common Shares under the Offering must comply with the short sale rule in all respects for any sales they make in the "MDA" "if, as and when issued" market. If and when the Offering closes, there will be no further trading in "MDA" on an "if, as and when issued" basis and the Common Shares issued at such closing will trade on a regular settlement basis. |
| Listing category: | Industrial, Non-Exempt Issuer |
| Security ownership registration: | Uncertificated Issue - Non-Certificated Inventory |
| Investor relations: | Michael Greenley Chief Executive Officer (905) 790-4429 Email: michael.greenley@mda.space Vito Culmone Chief Financial Officer (403) 829-6546 Email: vito.culmone@mda.space |
| Incorporation: | Business Corporations Act (Ontario) |
| Fiscal year end: | December 31 |
| Nature of business: | The Company operates in three business areas: Geointelligence, Robotics & Space Operations, and Satellite Systems. It serves nearly every sector of the rapidly growing space economy, with mission expertise and technology tailored to new space applications. |
| Transfer agent and registrar: | TSX Trust Company at its principal offices in Toronto, Ontario. |
| Dividends: | The Company does not currently anticipate paying dividends on the Common Shares in the foreseeable future. |
| Sponsorship: | Waived |
| Disclosure document: | Preliminary base PREP prospectus dated March 22, 2021 (the "Prospectus"), which is available at . Capitalized terms not otherwise defined herein are as defined in the disclosure document. |
| Initial public offering: | The Offering of Common Shares is expected to be comprised of a treasury offering by the Company of approximately 25,000,000 to 31,250,000 at an Offering price between $16.00 and $20.00 per Common Share (the "Offering Price") for gross proceeds of approximately $500 million to the Company. The syndicate of underwriters is comprised of BMO Nesbitt Burns Inc., Morgan Stanley Canada Limited, Scotia Capital Inc., Barclays Capital Canada Inc., RBC Dominion Securities Inc., Canaccord Genuity Corp., CIBC World Markets Inc., National Bank Financial Inc. and Stifel Nicolaus Canada Inc. In addition, the Company has granted to the Underwriters an over-allotment option pursuant to which the Underwriters may purchase up to an additional 15% of the Offering from treasury at the Offering Price. |
| TSX contact: | Chris Birkett, Managing Director, 兔子先生 |