Company: SPR
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001628280-25-009088
Chunk: 65

Company: Spirit AeroSystems Holdings, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1A
Chunk 65
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 al., No. 650254/2025 (the “New York Actions” and, together with the Federal Action, the Kansas Action and the Delaware Action, the “Lawsuits”). Each of the New York Actions alleges that the proxy statement/prospectus relating to the Merger failed to disclose certain material information and asserts claims against all defendants under New York common law for (i) negligent misrepresentation and concealment and (ii) negligence. The New York Actions seek injunctive relief enjoining the vote on the Merger and other remedies. Holdings has also received from additional purported Holdings stockholders demand letters that include allegations similar to those in the Lawsuits. On January 17, 2025, in order to moot the Lawsuits’ disclosure claims, avoid nuisance and possible expense and business delays, and provide additional information to its stockholders, Holdings voluntarily supplemented certain disclosures in the proxy statement/prospectus relating to the Merger by filing a Current Report on Form 8-K. On February 3, 2025, plaintiff in the Kansas Action voluntarily dismissed his claims. On February 4, 2025, plaintiff in the Federal Action voluntarily dismissed his claims.

After the Merger, Holdings stockholders will have a significantly lower ownership and voting interest in Boeing than they currently have in Holdings and will exercise less influence over management.

Immediately following completion of the Merger, Holdings stockholders will have a significantly lower ownership and voting interest in Boeing than they currently have in Holdings. Consequently, former Holdings stockholders will have less influence over the management and policies of Boeing than they currently have over the management and policies of Holdings.

The shares of Boeing Common Stock to be received by Holdings stockholders upon completion of the Merger will have different rights from shares of Holdings Common Stock.

Upon completion of the Merger, Holdings stockholders will no longer be stockholders of Holdings, but will instead become stockholders of Boeing, and their rights as Boeing stockholders will be governed by the terms of the Boeing certificate of incorporation and bylaws. The terms of Boeing’s certificate of incorporation and bylaws are in some respects materially different from the terms of Holdings’ certificate of incorporation and bylaws, which currently govern the rights of Holdings stockholders.

Holdings stockholders will not be entitled to appraisal rights in the Merger. 

Under Delaware law, holders of Holdings Common Stock will not have appraisal rights in connection with the Merger.