8-Kfiled October 31, 2024, 7:59 PM ETticker BACIK 0000012927
other materialconfidence highsentiment neutralmateriality 0.85
Boeing issues 115M depositary shares of 6% mandatory convertible preferred, offering closed Oct 31
BOEING CO
Issued 100M depositary shares (each 1/20th of Series A Mandatory Convertible Preferred) plus 15M over-allotment; offering closed Oct 31, 2024.
Preferred stock has $1,000 liquidation preference per share, 6% annual dividend payable quarterly, mandatory conversion to common by Oct 15, 2027.
Conversion rate per preferred share ranges from 5.8280 to 6.9940 common shares based on VWAP; depositary shares convert proportionally (0.2914 to 0.3497).
Preferred dividends must be current before any common dividends or share repurchases; holders have conversion, dividend, and liquidation rights.
Underwriting led by Goldman Sachs, BofA, Citigroup, J.P. Morgan; proceeds not specified but total depositary shares represent $5.75B liquidation preference.
BOEING CO: Filed Certificate of Designations to establish preferences, limitations and relative rights of a new series of Preferred Stock (effective 2024-10-31).
Change
charter amendment
Effective
2024-10-31
Exact text from the filing
On October 31, 2024, the Company filed the Certificate of Designations with the Secretary of State of the State of Delaware to establish the preferences, limitations and relative rights of the Preferred Stock.
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