The space-technology company will sell up to 31.25 million shares, with an initial price range of $16 to $20 per share. It had a net loss of $36.2 million on $411.5 million in revenue in 2020. BMO Nesbitt Burns, Morgan Stanley and Scotia Capital are the lead underwriters on the deal, which includes six other banks. (The Logic)

Talking point: Toronto-based Northern Private Capital, controlled by Andrew Lapham and Nova Scotia billionaire John Risley, led an investor consortium that repatriated MDA for $1 billion from Westminster, Colo.-based Maxar in December 2019. An offering priced at the middle of the range would value the company at more than twice that amount. MDA’s preliminary prospectus says the firm can grow revenue to as much as $900 million in its 2022 fiscal year, thanks in part to large domestic contracts such as the federal government’s Canadarm3 and antennas for Ottawa-based Telesat’s low-Earth orbit satellite constellation. The Canadian market accounted for 28 per cent of revenue in 2020. MDA is also planning to diversify internationally, focusing on NATO and aligned countries like the U.K. and Australia, which don’t have spacetech giants of their own.