Boeing agreed to issue and sell 100,000,000 depositary shares under an underwriting agreement dated October 28, 2024. Each depositary share represents a 1/20 interest in one share of 6.00% Series A Mandatory Convertible Preferred Stock, with a liquidation preference of $1,000.00 per share. The 1 shares are in the Series A preferred stock, so each depositary share is a fractional interest in one preferred share.

1. 01

   Boeing agreed to issue and sell 100,000,000 depositary shares under an underwriting agreement dated October 28, 2024. Each depositary share represents a 1/20 interest in one share of 6.00% Series A Mandatory Convertible Preferred Stock, with a liquidation preference of $1,000.00 per share. The 1 shares are in the Series A preferred stock, so each depositary share is a fractional interest in one preferred share.

2. 02

   Boeing granted the underwriters a 30-day option to buy up to an additional 15,000,000 depositary shares, solely to cover over-allotments. The underwriters exercised the option in full on October 29, 2024. The company said the offering closed on October 31, 2024.

3. 03

   The company said the preferred stock accrues dividends at 6.00% per year on its $1,000 liquidation preference, payable from January 15, 2025 through October 15, 2027. It said each 1 preferred shares will automatically convert into between 5.8280 and 6.9940 common shares on or about October 15, 2027, and each 1 depositary shares will convert into between 0.2914 and 0.3497 common shares.

4. 04

   The company said that while the preferred stock remains outstanding, it will not pay or declare dividends on common stock, or buy back or redeem common stock or other junior or parity stock, unless all accumulated and unpaid dividends have been paid or set aside, with certain exceptions. In a liquidation, holders of preferred stock will receive $1,000 per share plus unpaid dividends before any distribution to common shareholders.

Analysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.