Telesat to Become Public Company through Agreement with Loral and PSP Investments

November 24, 2020

Telesat Canada reached an agreement with Loral Space & Communications and the Public Sector Pension Investment Board (PSP Investments) to form Telesat Corporation, a new publicly traded Canadian company. Under the transaction Telesat Canada and Loral will become subsidiaries of Telesat Corporation, which will list on the Nasdaq to provide access to public equity to support growth initiatives including Telesat's Low Earth Orbit (LEO) satellite network.

Buyers
Telesat Corporation, Loral Space & Communications Inc., Public Sector Pension Investment Board (PSP Investments)
Targets
Telesat Canada, Loral Space & Communications Inc.
Sellers
Loral stockholders, MHR Fund Management
Location
Ontario, Canada
Transaction Type
Recapitalization

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