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Industrials

Is GE Going To Raise More Cash? (GE)

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published

Ge_logoAfter the close of trading on Friday, General Electric Co. (NYSE: GE) filed an open shelf registration with the SEC which would allow it from time to time to sell securities.  No size or dollar amount was given in this open registration, and no underwriters were named.

This shelf would allow the company to sell senior debt securities,subordinated debt securities, common stock, warrants, delayed deliverycontracts and guarantees.

The use of proceeds from the securities sale was listed as the typical "for general corporate purposes."

The reports and rumors of capital raises and additional financingpackages have been as wide as you could imagine.  Latelast week the company said it was not raising additional capital fromAsian wealth funds, although in today’s financial market calling asituation "fluid and subject to change" is something that almost has tobe said about any given hour of the day.

GE’s stock closed at $14.03 Friday and 52-week trading range is now $12.58 to $38.67.

Jon C. Ogg 
November 24, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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