Kenvue Announces Launch of Secondary Offering of $182.3M Shares by Selling Stockholders

Kenvue Inc. (NYSE:KVUE) ("Kenvue") announced today the launch of a secondary underwritten public offering (the "Offering") of 182,329,550 shares of its common stock (the "Shares"). Kenvue is not selling any shares of common stock and will not receive any proceeds from the sale of the Shares in the Offering or from the debt-for-equity exchange (as described below).

In connection with the Offering, Johnson & Johnson (NYSE:JNJ) is expected to exchange 182,329,550 shares of Kenvue's common stock for indebtedness of Johnson & Johnson expected to be held by Goldman Sachs & Co. LLC and J.P. Morgan (collectively, the "Selling Shareholders"). Following the debt-for-equity exchange, if consummated, the Selling Shareholders intend to sell the Shares to the underwriters in the Offering. After the completion of the proposed Offering, Johnson & Johnson will no longer own any shares of Kenvue's common stock.