General Electric Offloads $2B Stake In GE HealthCare

by Shivani Kumaresan, Benzinga Staff Writer

June 6, 2023 7:26 AM | 1 min read | Make a Comment

General Electric Co (NYSE: GE) is offering 25 million shares in GE HealthCare Technologies Inc GEHC.
The proceeds from the offering are expected to be about $2 billion.
In connection with this offering, GE is expected to exchange up to 28.75 million GE HealthCare shares for debt held by affiliates of Morgan Stanley under a debt-for-equity exchange.
Also Read: General Electric Appoints Rahul Ghai As Its New Finance Head
On June 2, 2023, the closing price of GEHC common stock as reported on Nasdaq was $79.97 per share.
Price Action: GE shares closed lower by 1.61% at $104.10 on Monday.