This represents a 1/20th interest in the new 6.00% Series A Mandatory Convertible Preferred Stock at $50.00 per share. Earlier, the company planned to offer 90 million shares of common stock.

The underwriters have a 30-day option to purchase an additional 16.875 million common shares and $750 million in depositary shares for over-allotments.

The common stock offering is expected to close on October 30, 2024, and the depositary shares offering on October 31, 2024, subject to customary conditions.

Boeing expects to raise around $15.81 billion from the common stock offering and about $4.91 billion from the Depositary Shares Offering, assuming no over-allotment options are exercised.

The company plans to use the net proceeds for general corporate purposes, which may include debt repayment, working capital, capital expenditures, and investments in its subsidiaries.

Investors can gain exposure to the stock via First Trust Exchange-Traded Fund First Trust Indxx Aerospace & Defense ETF (NYSE:MISL) and Gabelli Commercial Aerospace and Defense ETF (NYSE:GCAD).

Price Action: BA shares are up 1.71% at $153.27 at the last check Tuesday.

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