Telesat Canada is combining with major shareholder Loral Space & Communications to form one public company to finance its Low-Earth Orbit (LEO) constellation.

Telesat Canada and its co-owners Loral Space and Canada’s Public Sector Pension Investment Board (PSP Investments) revealed Tuesday that Telesat Canada and Loral will become subsidiaries of Telesat Corporation, a new publicly traded Canadian incorporated and controlled company. The company will be headquartered in Ottawa and led by Telesat CEO Dan Goldberg.

“Following the closing of the transaction, Telesat will have access to the public equity markets, providing increased flexibility and optionality to support our promising investment opportunities, including Telesat LEO, which will bridge the digital divide both at home in Canada and around the world, and give our customers the competitive advantage they need to be successful,” Goldberg commented in the news release.