Boeing (BA) on Monday launched the sale of around $19 billion in stock and depositary shares, as the troubled plane maker seeks to shore up its finances.

Boeing said it had꧂ kicked off the sale of 90 million shares of common stock. That would amount to $13.95 billion if the shares are valued at their Friday closing price of $155.01 each.

Boeing is also offering $5 billion in depositary shares for sale, which it said it intends to list on the 澳洲幸运5官方开奖结果体彩网:New York Stock Exchange (NYSE) under the symbol "BA.PRA."

The plane maker, which is grappling with a 澳洲幸运5官方开奖结果体彩网:crippling strike by its union machinists, will also offer the deals' underwriters a 30-day option to buꦆy an additional 13.5 million common shares and $750 million 🍎of depositary shares.

Boeing said net proceeds would go toward the "repayment of debt, additions to working capital, capital expenditures, and funding and investments" in its subsidiaries.

Bloomberg earlier reported plans by Boeing to raise more than $15 billion in capital as it seeks to keep its investment-grade rating and fund its recovery from the strike.

Boeing Earlier Announced Plans T🌱o Raise as Much a෴s $25B

Earlier this month, the company wrote in a regulatory filing that it plans to raise as much 澳洲幸运5官方开奖结果体彩网:as $25 billion through the sale of debt or stock. It also said that it had struck a deal with several big banks to receive a $10 billion cಌredit line.

Boeing is struggling with a cash drain worsened by the strike, with the union last week rejecting a contract that would have given members a 35% pay hike over four years. The company has said it is preparing to lay off about 澳洲幸运5官方开奖结果体彩网:10% of its workforce, or 17,000 people, and has postponed the launch of its 澳洲幸运5官方开奖结果体彩网:first 777x jetliner.

The company posted 澳洲幸运5官方开奖结果体彩网:an enormous third-quarter loss last week and has saiꦕd that the ongoing cash burn will continue into 2025.

Boeing stock has lost 40% of its value this year through Friday's close, and is falling 1.5% an hour before the opening bell Monday.

UPDATE—This article has been updated to include confirmed details from Boeing and reflect more recent share prices.