GE Healthcare Technologies Inc. has announced the commencement of a secondary offering of 13,000,000 shares of its common stock. The company clarified that it will not receive any proceeds from the sale of the shares in the offering or from the debt-for-equity exchange. Prior to the closing of the offering, General Electric Company ("GE") is expected to exchange the GE Healthcare shares for indebtedness of GE held by Morgan Stanley Senior Funding, Inc. and Morgan Stanley Bank, N.A.
Morgan Stanley, BofA Securities, Citigroup, Evercore ISI, Goldman Sachs & Co. LLC, and J.P. Morgan are serving as the lead joint book-running managers for the offering. The company has filed a shelf registration statement with the U.S. Securities and Exchange Commission (SEC) for the offering.
GE Healthcare Technologies Inc. is a leading global medical technology, pharmaceutical diagnostics, and digital solutions innovator, dedicated to providing integrated solutions, services, and data analytics to make hospitals more efficient, clinicians more effective, therapies more precise, and patients healthier and happier.
In response to the announcement, the company's management stated, "We are excited to commence this secondary offering, which will allow us to further strengthen our position in the market and continue our mission of advancing personalized, connected, and compassionate care. This offering represents an important step in our growth strategy and will support our ongoing efforts to improve patient care and create a world where healthcare has no limits."
The company's full 8-K submission is available here.
