Subscribers: Bombardier to raise $638-million in share sale at $3.80
need money to keep paying more expenses
More Money and share dilutions since debt too high and more expenses are required to be be paid to create CSeries jobs in Mobile, Alabama...
The company is issuing 168 million class B subordinate voting shares in a bought deal led by Credit Suisse Securities, National Bank Financial Inc., UBS Securities Canada Inc. and TD Securities Inc. The shares are priced at $3.80 each. In the past year, the stock has traded as low as $1.96.
Bombardier Inc. is raising $638-million in its first share issue in more than three years, taking advantage of recent sharp gains in the plane and train maker's stock to beef up its balance sheet.
Montreal-based Bombardier is issuing equity following a series of wins on the manufacturing and trade fronts, including an agreement with Airbus Group SE that rescued its marquee CSeries commercial jet program and a U.S. trade ruling that scrapped massive duties on the aircraft.