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Boeing Launches Nearly $19 Billion Capital Raise After $6.17 Billion Q3 Loss

Oct 28, 2024, 02:40 AM

Boeing Co. is planning to raise nearly $19 billion in capital as early as Monday, in an effort to boost its liquidity and prevent a potential credit rating downgrade to junk status amid ongoing challenges in the aerospace industry. The capital raise includes a public offering of 90 million shares of common stock, par value $5.00 per share, and $5 billion of depositary shares. The move comes after the company reported a $6.17 billion loss in the third quarter. Boeing has received SEC clearance to raise up to $25 billion. The funds are intended to strengthen the company's capital position.