GE HealthCare Technologies Inc. Prices Upsized Secondary Offering of 15,000,000 Shares
September 12 2024 - 9:40PM
Business Wire
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.
The Offering is being made pursuant to 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. A
final prospectus supplement and accompanying prospectus describing
the terms of the Offering will be filed with the SEC. You may
obtain these documents for free by visiting EDGAR on the SEC’s
website at www.sec.gov. Alternatively, copies of the final
prospectus supplement and accompanying prospectus relating to the
Offering may be obtained, when available, 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240912168889/en/
Investor Relations:
Carolynne Borders +1-631-662-4317
carolynne.borders@gehealthcare.com
Media: Jennifer Fox
+1-414-530-3027 jennifer.r.fox@gehealthcare.com
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