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Boeing has announced the pricing of its separate public offerings of common stock and depositary shares. The company will offer 112,500,000 shares of common stock at $143.00 per share and $5 billion in depositary shares, each representing a 1/20th interest in a newly issued 6.00% Series A Mandatory Convertible Preferred Stock, at $50.00 per share.
The underwriters have been granted a 30-day option to purchase up to an additional 16,875,000 shares of common stock and $750 million of depositary shares to cover over-allotments. The common stock offering is expected to close on October 30, 2024, while the depositary shares offering is anticipated to close on October 31, 2024.
Net proceeds from these offerings are estimated at approximately $15.81 billion for the common stock and $4.91 billion for the depositary shares after deducting underwriting discounts and expenses. Boeing plans to use these funds for general corporate purposes such as debt repayment and investments in subsidiaries.
