GE HealthCare announces offering of 13M shares of common stock for holders

GE HealthCare Technologies (GEHC) announced the launch of a secondary underwritten public offering of 13M 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, General Electric (GE) is expected to exchange the GEHC Shares for indebtedness of GE held by Morgan Stanley Bank, an affiliate of Morgan Stanley & Co., the selling stockholder in the offering by designation of the MS Lender. 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 underwriter in the offering. The selling stockholder in the offering has granted the underwriter an option to purchase additional shares of GE HealthCare common stock for settlement on or before March 28. Morgan Stanley is acting as the sole book-running manager for the offering.