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Macdonald Dettwiler And Associates Ltd Announces $250 Million Offering of Common Shares


Thursday, 7 Mar 2013 04:24pm EST 

Macdonald Dettwiler And Associates Ltd announced that it has reached an agreement with a syndicate of underwriters (the Underwriters) led by RBC Capital Markets, BMO Capital Markets and TD Securities pursuant to which MDA has agreed to issue, on a bought deal basis, 3,605,000 MDA common shares (the Common Shares) at $69.40 per Common Share for gross proceeds of approximately $250 million (the Offering). The Company has also granted the Underwriters an over-allotment option to purchase up to an additional 540,750 Common Shares on the same terms and conditions, exercisable in whole or in part at any time following closing of the Offering for a period of 30 days. The net proceeds of this Offering will be used to reduce outstanding bank indebtedness, providing additional capital capacity to support future growth opportunities. Closing of the Offering is expected to occur on or about March 27, 2013. 

Company Quote

93.58
-0.35 -0.37%
24 Dec 2014