GE HealthCare Technologies shares slide as GE plans share offering

GE HealthCare Technologies
GEHC,
-0.02%
stock was down 3% premarket on Tuesday after the company announced late Monday that General Electric Co.
GE,
-0.02%
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.