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Archive for Friday, April 8, 2011

Spirit AeroSystems stockholders selling 10.3 million shares

April 8, 2011

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— Aircraft parts maker Spirit AeroSystems Holdings Inc. said Friday that Onex Corp. and other shareholders are selling 10.3 million shares of class A common stock.

Spirit won't receive any proceeds from the sale. It said Morgan Stanley is underwriting the offering, and Morgan Stanley will have the option to buy another 1.5 million shares over the next 30 days. The sale is expected to close Wednesday.

The company said it expects Onex to maintain voting control after the offering. Spirit has more than 142 million shares outstanding, according recent regulatory filings.

In afternoon trading, Spirit AeroSystems shares fell $1.14, or 4.5 percent, to $24.

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