GE HealthCare Technologies Completes Sale of 17,250,000 Shares of Common Stock
09.16.24
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Simpson Thacher represented Morgan Stanley & Co. LLC and Citigroup Global Markets Inc., as representatives of the underwriters, in connection with the registered public offering of 17,250,000 shares of common stock of GE HealthCare Technologies Inc. (“GEHC”) held by GE Aerospace. Pursuant to a debt-for-equity exchange agreement entered into in connection with this offering, Morgan Stanley & Co. LLC received the common stock, offered by it, from GE Aerospace in partial satisfaction of GE Aerospace’s obligations arising out of GE Aerospace’s $2.7 billion term loan credit facility, with Morgan Stanley Bank, N.A. and Morgan Stanley Senior Funding, Inc., as the lenders, and Morgan Stanley Senior Funding, Inc., as administrative agent (the “Term Loan Credit Facility”).
Simpson Thacher also represented Morgan Stanley Bank, N.A. and Morgan Stanley Senior Funding, Inc. in connection with the Term Loan Credit Facility.
To date, the Firm has represented the underwriters and selling securityholders in connection with approximately $11.5 billion of debt and equity financings by GEHC, and related debt-for-debt and debt-for-equity exchanges, since 2022.
GEHC 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.
GE Aerospace is a global aerospace propulsion, services, and systems leader with a fleet in service of approximately 44,000 commercial and 26,000 military aircraft engines.
The Simpson Thacher team for the transaction included Roxane Reardon, David Azarkh, Evan Zuckerman and Jessica Ryan (Capital Markets); Patrick Ryan and Kyle Nelson (Banking); Vanessa Burrows and Jacob Madden (Healthcare); Andrew Purcell and Paul Jansch (Tax); Pasco Struhs (Executive Compensation and Employee Benefits); Paige Brinton (IP); and Jennie Getsin (FINRA and Blue Sky).