MDA Space Raises $300 Million in NYSE IPO, Eyes Global Expansion

MDA Space, Canada's largest space technology company, has debuted on the New York Stock Exchange in an initial public offering that was more than seven times oversubscribed, raising $300 million to pay down debt and pursue acquisition opportunities. CEO Mike Greenley plans to use the funds to expand the company's footprint in the US and Europe, and to acquire tech firms that can be folded into its supply chain. The stock fell about 8% in New York.