GE HealthCare Technologies Inc. Commences Secondary Offering of 10,000,000 Shares

GE HealthCare Technologies Inc. Commences Secondary Offering of 10,000,000 Shares





GE HealthCare Technologies Inc. (Nasdaq: GEHC) has announced a secondary public offering of 10,000,000 shares of its common stock. The company itself is not selling any shares or receiving proceeds from the sale. Prior to the offering’s closing, GE Aerospace is expected to exchange the GEHC shares for debt held by Morgan Stanley affiliates. The selling stockholder has granted underwriters an option to purchase an additional 1,500,000 shares for settlement by September 30, 2024. Morgan Stanley and Citigroup are acting as lead joint book-running managers for the offering. The company has filed an automatically effective shelf registration statement with the SEC for this offering.

GE HealthCare Technologies Inc. (Nasdaq: GEHC) ha annunciato un’offerta pubblica secondaria di 10.000.000 azioni del suo capitale sociale. La società stessa non sta vendendo azioni né ricevendo proventi dalla vendita. Prima della chiusura dell’offerta, GE Aerospace dovrebbe scambiare le azioni GEHC con debito detenuto da affiliate di Morgan Stanley. Il venditore ha concesso agli underwriter un’opzione per acquistare ulteriori 1.500.000 azioni da liquidare entro il 30 settembre 2024. Morgan Stanley e Citigroup stanno agendo come principali manager congiunti per l’offerta. La società ha presentato una dichiarazione di registrazione automatica efficace con la SEC per questa offerta.

GE HealthCare Technologies Inc. (Nasdaq: GEHC) ha anunciado una oferta pública secundaria de 10.000.000 de acciones de su capital social. La compañía no está vendiendo acciones ni recibiendo ingresos de la venta. Antes del cierre de la oferta, se espera que GE Aerospace intercambie las acciones de GEHC por deuda mantenida por afiliados de Morgan Stanley. El accionista vendedor ha otorgado a los suscriptores la opción de comprar 1.500.000 acciones adicionales con liquidación prevista para el 30 de septiembre de 2024. Morgan Stanley y Citigroup actúan como principales administradores conjuntos de la oferta. La compañía ha presentado una declaración de registro en estantería automáticamente efectiva ante la SEC para esta oferta.

GE Healthcare Technologies Inc. (Nasdaq: GEHC)는 10,000,000 주의 보통주에 대한 2차 공모를 발표했습니다. 회사 자체는 주식을 판매하거나 판매로부터 수익을 얻지 않습니다. 공모 마감 전에 GE Aerospace가 GEHC 주식을 Morgan Stanley 자회사에 대한 채무와 교환할 것으로 예상됩니다. 판매 주주가 인수인에게 1,500,000 주의 추가 매입에 대한 옵션을 부여했습니다. 이 주식은 2024년 9월 30일까지 결제될 예정입니다. Morgan Stanley와 Citigroup은 이번 공모의 주요 공동 주관 매니저로 활동하고 있습니다. 회사는 이번 공모를 위해 SEC에 자동으로 유효한 선반 등록 성명을 제출했습니다.

GE HealthCare Technologies Inc. (Nasdaq: GEHC) a annoncé une offre publique secondaire de 10.000.000 actions de son capital social. La société elle-même ne vend pas d’actions ni ne reçoit de revenus de la vente. Avant la clôture de l’offre, GE Aerospace devrait échanger les actions GEHC contre une dette détenue par des filiales de Morgan Stanley. L’actionnaire vendeur a accordé aux souscripteurs une option d’achat de 1.500.000 actions supplémentaires, avec un règlement prévu pour le 30 septembre 2024. Morgan Stanley et Citigroup agissent en tant que principaux gestionnaires d’ouvrage conjoints pour l’offre. La société a déposé une déclaration d’enregistrement de crédit-bail automatiquement efficace auprès de la SEC pour cette offre.

GE HealthCare Technologies Inc. (Nasdaq: GEHC) hat ein öffentliches Angebot von 10.000.000 Aktien ihres Stammkapitals angekündigt. Das Unternehmen selbst verkauft keine Aktien und erhält auch keine Erlöse aus dem Verkauf. Vor Abschluss des Angebots wird erwartet, dass GE Aerospace die GEHC-Aktien gegen Schulden, die von Morgan Stanley-Tochtergesellschaften gehalten werden, tauscht. Der verkaufende Aktionär hat den Underwritern eine Option eingeräumt, weitere 1.500.000 Aktien bis zum 30. September 2024 zu erwerben. Morgan Stanley und Citigroup fungieren als Haupt-Bookrunner der Emission. Das Unternehmen hat bei der SEC eine automatisch wirksame Shelf-Registrierungserklärung für dieses Angebot eingereicht.

Positive


  • Potential reduction of GE Aerospace’s debt through the debt-for-equity exchange

  • Option for underwriters to purchase additional 1,500,000 shares, potentially increasing liquidity

Negative


  • Potential dilution of existing shareholders’ ownership due to the sale of 10,000,000 shares

  • GE HealthCare will not receive any proceeds from the sale of shares

This secondary offering of 10 million shares by GE HealthCare is a significant market event. While the company won’t receive proceeds, it impacts the stock’s float and liquidity. The debt-for-equity exchange with GE Aerospace is an interesting financial maneuver, potentially improving GE Aerospace’s balance sheet. For GEHC investors, this could lead to increased trading volume and potentially more price volatility in the short term. The option for underwriters to purchase an additional 1.5 million shares by September 2024 adds another layer of complexity. Overall, this move suggests ongoing restructuring efforts within the broader GE ecosystem, which could have long-term implications for GEHC’s market position and investor sentiment.

This offering represents a significant shift in GEHC’s ownership structure. With 10 million shares hitting the market, we might see increased institutional interest, potentially leading to more analyst coverage and market attention. The involvement of major underwriters like Morgan Stanley and Citigroup lends credibility to the offering. However, the increased supply of shares could put downward pressure on the stock price in the short term. Long-term investors should watch for any changes in trading patterns or institutional holdings following this offering, as it could signal shifts in market perception of GEHC’s value proposition and growth potential in the competitive healthcare technology sector.











CHICAGO–(BUSINESS WIRE)–
GE HealthCare Technologies Inc. (Nasdaq: GEHC) (the “Company” or “GE HealthCare”) announced today the launch of a secondary underwritten public offering (the “Offering”) of 10,000,000 shares of its common stock (the “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 1,500,000 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 Company has filed an automatically effective shelf registration statement (including a prospectus) on Form S-3 with the U.S. Securities and Exchange Commission (the “SEC”) for the Offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Company has filed with the SEC for more complete information about the Company and this Offering. The Offering will be made only by means of a free writing prospectus, the prospectus and the accompanying prospectus supplement relating to the Offering. You may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the free writing prospectus, the prospectus and, when available, the accompanying prospectus supplement relating to the Offering may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; and Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146).

This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About GE HealthCare Technologies Inc.

GE HealthCare 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. Serving patients and providers for more than 125 years, GE HealthCare is advancing personalized, connected, and compassionate care, while simplifying the patient’s journey across the care pathway. Together our Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics businesses help improve patient care from diagnosis, to therapy, to monitoring. We are a $19.6 billion business with approximately 51,000 colleagues working to create a world where healthcare has no limits.

Forward‐Looking Statements

This release contains forward-looking statements. These forward-looking statements might be identified by words, and variations of words, such as “will,” “expect,” “may,” “would,” “could,” “plan,” and similar expressions. These forward-looking statements may include, but are not limited to, statements about the size, timing or results of the Offering and the selling stockholders’ intent to offer shares of common stock, and reflect management’s current plans, estimates and expectations and are inherently uncertain. The inclusion of any forward-looking information in this release should not be regarded as a representation that the future plans, estimates or expectations contemplated will be achieved. These forward-looking statements involve risks and uncertainties, many of which are beyond the Company’s control. Factors that could cause actual results to differ materially from those described in the Company’s forward-looking statements include, but are not limited to, operating in highly competitive markets; our ability to control increases in healthcare costs and any subsequent effect on demand for the Company’s products, services, or solutions; the Company’s ability to operate effectively as an independent, publicly-traded company; and the other factors detailed in the Company’s Registration Statement on Form S-3 filed on February 15, 2024, as well as other risks discussed in the Company’s filings with the U.S. Securities and Exchange Commission. Please also see the “Risk Factors” section of the Company’s Form 10-K filed with the U.S. Securities and Exchange Commission and any updates or amendments it makes in future filings. There may be other factors not presently known to the Company or which it currently considers to be immaterial that could cause the Company’s actual results to differ materially from those projected in any forward-looking statements the Company makes. The Company does not undertake any obligation to update or revise its forward-looking statements except as required by applicable law or regulation.

Investor Relations:

Carolynne Borders

+1-631-662-4317

[email protected]

Media:

Jennifer Fox

+1-414-530-3027

[email protected]

Source: GE HealthCare Technologies Inc.








FAQ



How many shares of GEHC stock are being offered in the secondary public offering?


GE HealthCare Technologies Inc. (GEHC) is offering 10,000,000 shares of its common stock in the secondary public offering.


Will GE HealthCare (GEHC) receive any proceeds from this secondary offering?


No, GE HealthCare (GEHC) will not receive any proceeds from the sale of shares in this secondary offering or from the debt-for-equity exchange.


Who are the lead joint book-running managers for the GEHC secondary offering?


Morgan Stanley and Citigroup are acting as the lead joint book-running managers for the GE HealthCare (GEHC) secondary offering.


What is the additional share option granted to underwriters in the GEHC offering?


The selling stockholder has granted the underwriters an option to purchase an additional 1,500,000 shares of GE HealthCare (GEHC) common stock for settlement on or before September 30, 2024.





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