GE HealthCare announces 10M share offering of common stock for holders

GE HealthCare (GEHC) announced the launch of a secondary underwritten public offering of 10M shares of its common stock. GE HealthCare is not selling any shares of common stock and will not receive any proceeds from the sale of the GEHC Shares in the Offering or from the debt-for-equity exchange. Prior to the closing of the Offering, GE Aerospace (GE) is expected to exchange the GEHC Shares for indebtedness of GE Aerospace held by Morgan Stanley Bank, N.A. and Morgan Stanley Senior Funding, affiliates of Morgan Stanley & Co., the selling stockholder in the offering by designation of the MS Lenders. Following the debt-for-equity exchange, if consummated, Morgan Stanley & Co., as the selling stockholder in the offering, intends to sell the GEHC Shares to the underwriters in the offering. The selling stockholder in the offering has granted the underwriters an option to purchase 1.5M additional shares of GE HealthCare common stock for settlement on or before September 30, 2024. Morgan Stanley and Citigroup are acting as the lead joint book-running managers for the offering.