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GE HealthCare Technologies shares slide as GE plans share offering

Sep 26, 2023Sep 26, 2023

GE HealthCare Technologies GEHC, +1.21% stock was down 3% premarket on Tuesday after the company announced late Monday that General Electric Co. GE, -0.54% plans to sell 25 million shares, or about $2 billion, of the medical technology company in a debt-for-equity exchange. In connection with the offering, GE is expected to exchange up to 28.75 million shares of GE HealthCare Technologies for GE debt held by affiliates of Morgan Stanley, according to a regulatory filing. GE in January completed the spinoff of the healthcare business into a separate public company.

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Eleanor Laise is an investigative reporter for MarketWatch and is based in Washington.