CHICAGO - GE HealthCare (NASDAQ:GEHC) Technologies Inc. (NASDAQ:GEHC), a provider of medical technology and diagnostics, has upsized its secondary public offering to 14 million shares, an increase from the initially announced 13 million. The company itself is not selling any shares nor will it receive proceeds from this offering.
The transaction involves General Electric Company (NYSE:GE) exchanging the shares for debt held by Morgan Stanley Bank, N.A., an affiliate of Morgan Stanley & Co (NYSE:MS). LLC, which is the designated selling stockholder. Following this debt-for-equity swap, Morgan Stanley & Co. LLC plans to sell the shares to the underwriter.
Additionally, an option has been granted to the underwriter to purchase extra shares of GE HealthCare common stock by March 28, 2024.
Morgan Stanley is the sole book-running manager for the offering, which is expected to close on March 15, 2024, subject to standard closing conditions. The shares will be available for purchase on The Nasdaq Stock Market LLC, among other platforms, at market prices or negotiated prices.
The offering is made under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC). Interested parties can obtain the final prospectus supplement and accompanying prospectus from Morgan Stanley & Co. LLC, once available.
GE HealthCare, with a legacy of over 100 years, is recognized for its contributions to medical technology, pharmaceutical diagnostics, and digital solutions. It aims to enhance healthcare delivery through its range of services and products, which include imaging, ultrasound, patient care solutions, and pharmaceutical diagnostics.
The information provided is based on a press release statement.
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