MacDonald, Dettwiler and Associates Ltd. Closes $287.7 Million Offering of
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED
RICHMOND, BC, March 27, 2013 /CNW/ - MacDonald, Dettwiler and Associates Ltd.
("MDA" or the "Company") (TSX: MDA), a global communications and information
company, is pleased to announce that it has closed the previously announced
public offering of 4,145,750 shares (the "Shares") at a price of $69.40 per
Share for gross proceeds to MDA of $287,715,050 (the "Offering").
"This is the first time MDA has issued equity to finance its growth," said
Anil Wirasekara, MDA's Executive Vice President and Chief Financial Officer.
"The acquisition of SSL on November 2, 2012 was transformational for the
Company, and with the completion of this financing, MDA will be
well-positioned to pursue growth opportunities."
The Company filed a short form final prospectus in each of the provinces of
Canada on March 21, 2013 in connection with the Offering. RBC Dominion
Securities Inc., BMO Nesbitt Burns Inc., and TD Securities Ltd., acted as
joint-bookrunners for a syndicate of underwriters that included National Bank
Financial Inc., CIBC World Markets Inc., Scotia Capital Inc., Raymond James
Ltd., Cormark Securities Inc. and GMP Securities L.P. (the "Underwriters").
The closing of the Offering today included the exercise in full of the
over-allotment option of 540,750 Shares by the Underwriters.
Further Information on the Offering:
This press release does not constitute an offer to sell or the solicitation of
an offer to buy any securities of MDA in the United States. The Common
Shares described in this press release have not been and will not be
registered under the United States Securities Act of 1933, as amended, or the
securities laws of any state and may not be offered, sold or delivered in the
United States or for the account or for the benefit of a U.S. person absent
registration or an exemption from registration.
MDA is a global communications and information company providing operational
solutions to commercial and government organizations worldwide.
MDA's business is focused on markets and customers with strong repeat business
potential. In addition, the Company conducts a significant amount of advanced
MDA's well-established global customer base is served by more than 4,500
employees operating from 11 offices located in the United States, Canada, and
The Company's common shares trade under the symbol TSX:MDA.
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Related Websites: www.mdacorporation.com
This press release contains "forward-looking statements", within the
definition contained in the applicable Canadian securities legislation,
concerning the use of proceeds of the Offering. Any such forward-looking
statements are based on MDA's current expectations, estimates, projections and
assumptions in light of its experience and its perception of historical
trends. Any such forward-looking statements are subject to a number of risks
and uncertainties that could cause actual results to differ materially from
current expectations. The risks that could cause actual results to differ from
current expectations include, but are not necessarily limited to: changes in
government priorities, funding levels, contracts and regulations; failure of
third parties and subcontractors; risks associated with the design and
operation of satellites and provision of satellite services, including
satellite construction or launch delays, launch failures, in-orbit failures or
impaired satellite performance; failure to anticipate changes in technology,
technical standards and product offerings or comply with the requisite
standards and failure of systems to meet performance requirements;
fluctuations in foreign exchange or interest rate and stock market volatility;
and restrictions in the Company's borrowing documents. The foregoing list of
important factors is not exhaustive. MDA cautions readers that should certain
risks or uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary significantly from those expected.
For additional information with respect to certain of these risks or factors,
plus additional risks or factors, reference should be made to the Company's
continuous disclosure materials filed from time to time with Canadian
securities regulatory authorities, which are available online under the
Company's profile at www.sedar.com or on the Company's website at
The Toronto Stock Exchange has neither approved nor disapproved the form or
content of this release.
Wendy Keyzer MDA External Relations (604) 231-2743 email@example.com
SOURCE: MacDonald, Dettwiler and Associates Ltd.
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CO: MacDonald, Dettwiler and Associates Ltd.
ST: British Columbia
NI: ARO SOF NEWSTK
-0- Mar/27/2013 12:45 GMT
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