Boeing is attempting one of the largest share sales in public history to raise $19 billion amid ongoing factory worker strikes, worsening cash flow issues, and pressures not to receive a credit downgrade to junk status.
Analysts projected Boeing needed to raise between $10-$15 billion to avoid a credit downgrade, with the company on track to burn through $14 billion in cash this year.
New CEO Kelly Ortberg admitted that Boeing's recovery will take time and cautioned that the process of resuming production after the strike will be bumpy and challenging.
As Boeing announces its share sale, current shareholders face dilution in their investments, indicated by a 1.5% drop in share value on the announcement.
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