Boeing Launches $5B Preferred Stock Offering and 90M Common Shares, Eyes Debt Reduction and Growth Funding
Portfolio Pulse from Benzinga Newsdesk
Boeing has announced a $5 billion preferred stock offering and 90 million common shares to reduce debt and fund growth. The offerings include depositary shares representing a 1/20th interest in newly issued Series A Mandatory Convertible Preferred Stock. Proceeds will be used for general corporate purposes.
October 28, 2024 | 10:44 am
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Boeing is launching a $5 billion preferred stock offering and 90 million common shares to reduce debt and fund growth. This move may impact Boeing's stock price as it involves significant equity actions.
The issuance of new shares can lead to stock dilution, potentially putting downward pressure on Boeing's stock price in the short term. However, the move is aimed at reducing debt and funding growth, which could be positive in the long term. The immediate market reaction may focus on the dilution aspect.
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