Stock Market News
Shares of Spirit Aero down 15% as company looks to raise cash
2023.11.07 17:27
© Reuters. FILE PHOTO: A Boeing 737 MAX-10 lands over the Spirit AeroSystems logo during a flying display at the 54th International Paris Air Show at Le Bourget Airport near Paris, France, June 22, 2023. REUTERS/Benoit Tessier/File Photo
WASHINGTON (Reuters) -Shares of Spirit AeroSystems (NYSE:) dropped 15% in extended trade after the company announced new measures meant to raise capital for the embattled aerospace supplier.
The company announced a proposed public offering of $200 million of its Class A common stock.
It also plans to offer $200 million in Exchangeable Senior Notes set to mature in 2028.
Shares, which closed flat at $24.64, fell to $20.94 in after-hours trading.
