GE HealthCare Technologies Inc. (Nasdaq: GEHC) (the “Company” or “GE HealthCare”) announced today the pricing of the previously announced secondary underwritten public offering (the “Offering”) of 15,000,000 shares of its common stock (the “GEHC Shares”) at a public offering price of $86.00 per share. The Offering was upsized from the previously announced offering size of 10,000,000 GEHC Shares. 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 (as described below).
Prior to the closing of the Offering, GE Aerospace (General Electric Company) is expected to exchange the GEHC Shares for indebtedness of GE Aerospace held by Morgan Stanley Bank, N.A. and Morgan Stanley Senior Funding, Inc. (together, the “MS Lenders”), affiliates of Morgan Stanley & Co. LLC, the selling stockholder in the Offering by designation of the MS Lenders. Following the debt-for-equity exchange, if consummated, Morgan Stanley & Co. LLC, 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 2,250,000 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. The Offering is expected to close on September 16, 2024, subject to customary closing conditions.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.