07:19 AM EDT, 10/28/2024 (MT Newswires) -- Boeing ( BA ) said Monday it is launching concurrent public offerings of 90 million common shares at a par value $5 per share, and $5 billion worth of depositary shares, each representing a 1/20th interest in a share of newly issued series A mandatory convertible preferred stocks at a par value $1 per share.

Underwriters are expected to be granted a 30-day option to purchase up to 13.5 million additional common shares and $750 million of depositary shares.

The airplane maker said it plans to use net proceeds from the offerings for general corporate purposes, which may include repayment of debt.

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