Company: BA
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0000012927-25-000062
Chunk: 35

Company: BOEING CO
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 35
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Decrease) to Earnings/increase to (loss) from operations($338)($1,700)($187)($1,334)Increase to Diluted loss per share($0.49)($2.62)($0.27)($2.06)

Note 2 – Spirit Acquisition

On June 30, 2024, we entered into an Agreement and Plan of Merger (the Merger Agreement) pursuant to which we have agreed to acquire Spirit AeroSystems Holdings, Inc. (Spirit) in an all-stock transaction (the 

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Boeing-Spirit Merger) at an equity value of approximately $4,700, or $37.25 per share of Spirit Class A Common Stock (Spirit common stock). The Boeing-Spirit Merger will include the assumption of Spirit's net debt at closing. On January 31, 2025, Spirit's stockholders approved the Merger Agreement and the related transactions.Each share of Spirit common stock will be exchanged for a number of shares of Boeing common stock equal to an exchange ratio between 0.18 and 0.25, calculated as $37.25 divided by the volume weighted average share price of Boeing shares over the 15-trading-day period ending on the second trading day prior to the closing (subject to a floor of $149.00 per share and a ceiling of $206.94 per share). Spirit stockholders will receive 0.25 Boeing shares for each of their Spirit shares if the volume-weighted average price is at or below $149.00, and 0.18 Boeing shares for each of their Spirit shares if the volume-weighted average price is at or above $206.94 per share.The Merger Agreement contains certain termination rights, including that either Boeing or Spirit may terminate the Merger Agreement if, subject to certain limitations, the Boeing-Spirit Merger has not been consummated by March 31, 2025 (subject to three automatic three-month extensions if on each such date or the last day of each extension period, as applicable, all of the closing conditions except those relating to regulatory approvals have been satisfied or waived) (the Outside Date). The second automatic extension came into effect on July 1, 2025. Accordingly, the Outside Date is currently September 30, 2025. If either party breaches or fails to perform any of its representations, warranties or covenants under the Merger Agreement such that the related conditions to the other party's obligation to consummate