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BUZZ-GE HealthCare dips as GE Aerospace halves remaining stake in $1.3 bln secondary offering

Reuters · 5d ago

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BUZZ-GE HealthCare dips as GE Aerospace halves remaining stake in $1.3 bln secondary offering

** Shares of GE HealthCare Technologies GEHC.O down 1.4% premarket to $86.27 after overnight secondary offering priced

** Medical device maker late Thurs announced 15 mln shares at $86 for gross proceeds of ~$1.3 bln with Morgan Stanley and Citi as jt bookrunners

** Deal size boosted from 10 mln shares, priced at 1.7% discount to last sale

** GE Aerospace GE.N, which became an independent co in Apr after General Electric completed its three-way split, to exchange GEHC shares for debt held by Morgan Stanley

** After last selldown in Mar, GE was left with 30.5 mln GEHC shares or 6.7% stake

** GEHC has ~456.66 mln shares outstanding

** Through Thurs, GEHC shares up 13% YTD

** GE shares on Thurs closed at $169.70, up ~67% in 2024

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@thomsonreuters.com))

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