Boeing upsizes common stock offering, targets raising $21B through share sales

• Boeing (NYSE:BA) priced its offerings of common stock and depositary shares, targeting to raise a little over $21B, in a bid to moves to strengthen the troubled planemaker’s balance sheet.
• The company priced its offering of 112.5M common shares at $143 per share, and its $5B depositary stock offering at $50 apiece.
• Boeing (BA) granted the underwriters in each respective offering a 30-day option to buy up to an additional ~16.9M common shares and $750M of depositary shares, solely to cover over-allotments, if any.
• The common stock offering is expected to close on October 30 and the depositary share offering is expected to close on October 31.
• The stock sales come as Boeing (BA) is battling mounting costs, a safety crisis, a strike by workers that’s in its seventh week, and the looming risk of a credit downgrade to junk.

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