The combined offering is the largest U.S. follow-on offering in history

Davis Polk advised the representatives of the several underwriters in connection with the $18.5 billion SEC-registered offering of 129,375,000 common shares as well as the $5.75 billion SEC-registered offering of 115,000,000 depositary shares by The Boeing Company, including the full exercise by the underwriters of their options to purchase 16,875,000 additional common shares and 15,000,000 additional depositary shares. Each depositary share represents a 1/20th interest in a share of The Boeing Company’s 6.00% Series A mandatory convertible preferred stock. The proceeds from the offerings will be used for general corporate purposes. The combined offering is the largest U.S. follow-on offering in history, according to LSEG Data & Analytics.

The Boeing Company is one of the world’s major aerospace firms and a leading manufacturer of commercial airplanes and defense, space and security systems. Its products and tailored services include commercial and military aircraft, satellites, weapons, electronic and defense systems, launch systems, advanced information and communication systems, and performance-based logistics and training. It operates in three segments: Commercial Airplanes, Defense, Space & Security and Global Services.

The Davis Polk capital markets team included partners John B. Meade, Mark M. Mendez and Michael Kaplan, counsel Faisal Baloch and Hanbing Zhang and associates David Li, Amy Cheng, Alexander S. Pettingell, Fei Deng, Ji Hwan Kim and Walker Halstad. All members of the Davis Polk team are based in the New York office.

Copy link to share post