Spirit Aerosystems Holdings Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Results of Operations and Financial Condition, Financial Statements and Exhibits
$SPR
Military/Government/Technical
Industrials
UNITED STATES SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): July 17, 2024
(Exact name of registrant as specified in its charter)
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(316 ) 526-9000
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Item 1.01. Entry into a Material Definitive Agreement
As previously disclosed, on April 18, 2024, Spirit AeroSystems, Inc. (“Spirit”), a wholly owned subsidiary of Spirit AeroSystems Holdings, Inc. (“Spirit Holdings,” and together with Spirit, the “Company”), and The Boeing Company (“Boeing”) entered into a Memorandum of Agreement (the “MOA”), under which Boeing advanced $425.0 million to the Company, and on June 20, 2024, the MOA was amended to increase the advance by an additional $40.0 million and to revise certain repayment amounts and extended the repayment dates.
The Company repaid $40.0 million of the advances to Boeing, however, the other amounts remain unpaid. Under the amended MOA, the first repayment had been scheduled for July 17, 2024. As noted in the earnings release for the third quarter of 2024 issued today, Company management is implementing plans designed to improve liquidity as needed and expects these plans to improve the Company’s liquidity and meet the Company’s cash demands through the closing of the Boeing acquisition. These plans include active discussions with Boeing and other customers regarding the timing or amounts of repayment for customer advances.
Item 2.02. Results of Operations and Financial Condition
On October 23, 2024, Spirit AeroSystems Holdings, Inc. (the “Company”) issued a press release announcing the Company’s financial results for the nine month period ended September 26, 2024. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information in Item 2.02, including the exhibit, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that Section, nor shall it be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
Furnished
Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SPIRIT AEROSYSTEMS HOLDINGS, INC. | |||||
| Date: October 23, 2024 | /s/ Irene M. Esteves | ||||
| Irene M. Esteves | |||||
| Executive Vice President and Chief Financial Officer | |||||
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