Boing (Licence) launched a sale of nearly $19 billion worth of stock and escrow shares on Monday as it sought to shore up the troubled plane maker’s finances.

Boeing announced that it started selling 90 million shares of stock. If each share is valued at $155.01, which is Friday’s closing price, this figure will be $13.95 billion.

Boeing is also offering $5 billion in escrow shares and has said it plans to list them. New York Stock Exchange (NYSE) Under the symbol “BA.PRA”.

Aircraft manufacturer struggling with a problem paralyzing strike will give the underwriters of the deals a 30-day option to purchase an additional 13.5 million common shares and $750 million in escrow shares.

Boeing said the net proceeds will go toward “repayment of debt, additions to working capital, capital expenditures, and financing and investments” at its subsidiaries.

Bloomberg Boeing has previously reported plans to raise more than $15 billion in capital as it aims to maintain its investment grade rating and fund recovery after the strike.

Boeing Previously Announced It Planned to Increase Up to $25 Billion

Earlier this month, the company wrote in a regulatory filing that it planned to raise that much. 25 billion dollars through debt or equity sales. It was also stated that an agreement was reached with several large banks to obtain a credit line of $ 10 billion.

Boeing is struggling with a cash crunch made worse by the strike, with the union last week rejecting a contract that would have given members a 35% pay increase over four years. The company announced that it was preparing for layoffs 10% of the workforceReached 17,000 people and delayed its launch first 777x jet airliner.

The company published A massive loss in the third quarter He said last week that the ongoing cash burn would continue in 2025.

Boeing shares have lost 40% of their value this year through Friday’s close and are down 1.5% an hour before the opening bell Monday.

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