Spirit AeroSystems (SPR) to offer $200M in common stock

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November 7, 2023 4:07 PM EST

Spirit AeroSystems Holdings, Inc. (NYSE: SPR) announced today that it has commenced an underwritten public offering of $200 million of its Class A common stock. The Company will be offering all of the Class A common stock to be sold in the offering. In addition, the Company expects to grant the underwriters a 30-day option to purchase up to an additional $30 million of shares of Class A common stock at the public offering price, less underwriting discounts and commissions. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering. The Company intends to use the net proceeds from the offering for general corporate purposes.

Concurrently with the offering of Class A common stock, Spirit AeroSystems, Inc., a wholly-owned subsidiary of the Company, is offering, pursuant to an offering memorandum in reliance upon exemptions from registration under the Securities Act of 1933, $200 million aggregate principal amount of exchangeable senior notes that will mature in 2028 (the "Exchangeable Notes"), plus up to an additional $30 million aggregate principal amount of Exchangeable Notes that the initial purchasers of the Exchangeable Notes have the option to purchase from Spirit AeroSystems, Inc. The completion of the offering of Class A common stock is not contingent on the completion of the offering of the Exchangeable Notes, and the completion of the offering of the Exchangeable Notes is not contingent on the completion of the offering of Class A common stock.

Morgan Stanley, Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as joint active book-running managers and BofA Securities and Citigroup are acting as joint book-running managers of the offering.


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