GE HealthCare slips as GE moves to sell more shares to pay debt

GE HealthCare (NASDAQ:) shares fell over 3% in premarket Tuesday after majority owner General Electric (NYSE:) offered to sell more shares via Morgan Stanley.

25 million shares of the GEHC common stock are offered, out of 454.7M outstanding shares as of April 18.

“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,” the company said in a press release.

GE intends to pay debt with the proceeds from the sale. Evercore ISI, Morgan Stanley, BofA Securities, Citigroup, and Goldman Sachs) are acting as the joint lead book-runners for the Offering.

GEHC stock is up 37.9% year-to-date (YTD).