/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE
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
MDA is a global communications and information company providing
operational solutions to commercial and government organizations
MDA's business is focused on markets and customers with strong repeat
business potential. In addition, the Company conducts a significant
amount of advanced technology development.
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 internationally.
The Company's common shares trade under the symbol TSX:MDA.
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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
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 www.mdacorporation.com.
The Toronto Stock Exchange has neither approved nor disapproved the form
or content of this release.
SOURCE: MacDonald, Dettwiler and Associates Ltd.
For further information:
MDA External Relations