Spirit AeroSystems plans public secondary stock offering
03/04/2014 10:41 AM
03/04/2014 10:43 AM
Spirit AeroSystems plans to hold a public secondary offering of about 6.2 million shares of class A common stock, the company said Tuesday.
Spirit will not receive any of the proceeds from the offering, and the total number of shares of stock outstanding will not change as a result, it siad.
The shares are being offered primarily by affiliates of Onex Corp., and current and former members of Onex management. Onex expects to maintain voting control of Spirit following the offering.
Canadian investment firm Onex purchased Boeing’s commercial aircraft division in Wichita in 2005. In 2006, the company issued its initial public offering.
In other news Tuesday, Spirit said it intends to offer up to $300 million in senior unsecured notes due in 2022 in a private placement, the company said Tuesday.
Spirit will issue the notes, which will be “unconditionally guaranteed, jointly and severally, on a senior unsecured basis,” it said in a news release.
The company plans to use the net proceeds from the offering and cash on hand to repurchase Spirit’s outstanding 7.5 percent senior notes due in 2017.
Wichita Top Jobs
The Cabinet Lady
Residence Inn Wichita
Health Ministries Clinic
Kansas Aviation Museum
Derby Recreation Commission
Join the Discussion
The Wichita Eagle is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.