Boeing is offering 90 million in common stock and $5-billion in depositary shares. The company’s shares fell 1% in premarket trading
on Monday launched a stock offering that could raise roughly $19-billion as the plane maker looks to strengthen its finances squeezed by a month-long worker strike and a year-long safety crisis.
The plane maker was already reeling under a regulator-imposed cap on production of its MAX jets after a January mid-air panel blowout. The strike is costing the company more than $1-billion per month, according to one estimate that was released before Boeing announced it would cut 10 per cent of its work force.
Boeing, which has never fallen below the investment-grade rating, had cash and marketable securities of $10.50-billion as of Sept. 30.
Cash Company Debt Stock Rating Finances Production S&P Global Boeing Reuters
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