Boeing falls after 112.5M share offering prices at $143.00

Boeing (BA) said priced of its previously announced separate underwritten public offerings of 112.5M shares at a public offering price of $143.00 per share and $5B of depositary shares, each representing a 1/20th interest in a share of newly issued 6.00% series A mandatory convertible preferred stock at a public offering price of $50.00 per depositary share. The stock offering is expected to close on October 30. The net proceeds from the offering will be approximately $15.81B and the net proceeds from the depositary shares offering will be approximately $4.91B. Boeing intends to use the net proceeds from the offerings “for general corporate purposes, which may include, among other things, repayment of debt, additions to working capital, capital expenditures, and funding and investments in the Company’s subsidiaries.” Goldman Sachs, BofA, Citigroup and JPMorgan are acting as lead joint bookrunning managers for the offerings. Shares of Boeing are down 2% to $147.25 in premarket trading.