MDA Space Ltd T.MDA

TSAT got $4B from government

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In exchange for committing to $1B project capex in Canada. I'm guessing MDA gets a big chunk of that, and the balance went to EU satellite maker Thales. TSAT is set to list on public exchanges.


>>>OTTAWA, CANADA, August 12, 2021 – Telesat, one of the world’s largest and most innovative satellite operators, announced today that it expects to receive a $1.44 billion investment from the Government of Canada to support Telesat Lightspeed, the world’s most advanced Low Earth Orbit (LEO) satellite network. ..Under the terms of the agreement, the Government of Canada would provide a loan of $790 million and make a $650 million preferred equity investment in Telesat Lightspeed. . With the funding announced today and other financing sources already in place, including the previously announced investment by the Government of Quebec, Telesat now has arrangements for approximately $4 billion in funding for the program.

>>>Telesat will commit to investing in Canada $1 billion of capital expenditures for its initial Lightspeed constellation and the lesser of $2.6 billion or 50% of certain capital expenditures for its subsequent constellation, with incentives for additional Canadian investment in the subsequent Lightspeed constellation.

https://www.telesat.com/press/press-releases/telesat-to-receive-1-44-billion-through-government-of-canada-investment-a-major-milestone-towards-completing-the-financing-of-telesat-lightspeed/

>>>Telesat Corp. has filed for a listing on U.S. and Canadian exchanges as it ramps up development of a US$5 billion network of low-earth orbit satellites. The Ottawa-based satellite operator, which is partially owned by Canada’s Public Sector Pension Investment Board, filed a preliminary prospectus to trade on Nasdaq and the Toronto Stock Exchange.... In February, Telesat struck a US$3 billion deal with Thales Alenia Space to have the European manufacturer build the fleet of about 300 satellites.

https://financialpost.com/investing/telesat-files-to-go-public-ahead-of-5-billion-lightspeed-plan

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Correction... $2B. But hey what's a couple of billion these days.

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It's shocking that there is no report on the CBC website about this huge federal government investment. Back when Bombardier was seeking financial support, the news was plastered everywhere you looked. >>>OTTAWA, ON, Aug. 12, 2021 /CNW/ - As Canada prepares to emerge from the pandemic, the Government of Canada is making the investments required for a robust economic recovery