The company said it completed the Debt-for-Equity Exchange, in which it exchanged its remaining 182,329,550 shares of Kenvue Common Stock for the outstanding Commercial Paper on May 17, 2024. The Commercial Paper was satisfied and discharged, and the company no longer holds any Kenvue Common Stock.

1. 01

   The company said it completed the Debt-for-Equity Exchange, in which it exchanged its remaining 182,329,550 shares of Kenvue Common Stock for the outstanding Commercial Paper on May 17, 2024. The Commercial Paper was satisfied and discharged, and the company no longer holds any Kenvue Common Stock.

2. 02

   The company said it issued Commercial Paper with an aggregate principal amount of $3.6 billion on May 15, 2024 and received net cash proceeds of $3.6 billion to be used for general corporate purposes.

3. 03

   The company said Kenvue completed its IPO on May 8, 2023, issuing 198,734,444 shares at an initial public offering price of $22.00 per share, and that the net proceeds it received totaled $4.2 billion. At the closing of the IPO, the company owned approximately 89.6% of Kenvue's outstanding shares.

4. 04

   The company said it completed the disposition of 1,533,830,450 shares of Kenvue Common Stock (80.1% of outstanding Kenvue Common Stock) through an exchange offer on August 23, 2023, in exchange for 190,955,436 shares of Johnson & Johnson common stock. Following the exchange offer, the company owned approximately 9.5% of Kenvue's outstanding shares.

Analysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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