GE HealthCare Technologies Inc. Prices Secondary Offering of 13,281,302 Shares
November 07 2024 - 9:31PM
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 13,281,302 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. (the
“MS Lender”), an affiliate of Morgan Stanley & Co. LLC, the
selling stockholder in the Offering by designation of the MS
Lender. 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.
J.P. Morgan, Citigroup and Morgan Stanley are acting as the lead
joint book-running managers for the Offering. The Offering is
expected to close on November 12, 2024, subject to customary
closing conditions.
The GEHC Shares will be offered from time to time in one or more
transactions on The Nasdaq Stock Market LLC, in the
over-the-counter market or through negotiated transactions or
otherwise at prices prevailing at the time of sale, at prices
related to prevailing prices or at negotiated prices.
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 J.P. Morgan
Securities LLC, c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717, or by email at
prospectus-eq_fi@jpmchase.com and
postsalemanualrequests@broadridge.com; Citigroup, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717
(Tel: 800-831-9146); and Morgan Stanley & Co. LLC, Attention:
Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY
10014.
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, Advanced Visualization Solutions,
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/20241107214133/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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