secwatch.observer — SEC 8-K summary
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Issuer:     BOEING CO (BA)
CIK:        0000012927
Form:       8-K
Filed at:   2024-10-31T23:59:59+00:00
Accession:  0001193125-24-248743
Event type: other_material
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Boeing issues 115M depositary shares of 6% mandatory convertible preferred, offering closed Oct 31
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/12927/000119312524248743/0001193125-24-248743-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/12927/000119312524248743/d750441d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-248743

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