---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-138287"
form_type: "8-K"
ticker: "JNJ"
cik: "0000200406"
company_name: "JOHNSON & JOHNSON"
filed_at: "2023-05-08T23:59:59+00:00"
generated_at: "2026-06-15T14:31:40.116068+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# J&J completes Kenvue IPO at $22/share, retains 89.6% stake; net proceeds $4.24B

## Summary
- Kenvue IPO priced at $22.00 per share; 198.7M shares sold including over-allotment.
- Net proceeds of $4,241M paid to J&J as partial consideration for transferred consumer health business.
- J&J owns 1,716,160,000 Kenvue shares (89.6%) post-IPO; will continue to consolidate Kenvue.
- Separation Agreement and ancillary agreements (tax, employee, IP, trademark) executed May 3, 2023.
- J&J may pursue a full distribution or other disposition of remaining Kenvue shares later.

## SEC filing metadata
- accession: 0001193125-23-138287
- form_type: 8-K
- ticker: JNJ
- cik: 0000200406
- company_name: JOHNSON & JOHNSON
- filed_at: 2023-05-08T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/200406/000119312523138287/0001193125-23-138287-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/200406/000119312523138287/d301195d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-138287
- JSON: https://secwatch.observer/filing/0001193125-23-138287.json
- Plain text: https://secwatch.observer/filing/0001193125-23-138287.txt

## Key facts
- Material Agreements
  JOHNSON & JOHNSON entered into Separation Agreement with Kenvue Inc. (effective 2023-05-03).
  - Action: entry
  - Counterparty: Kenvue Inc.
  - Effective: 2023-05-03
  source text: On May 8, 2023, Kenvue Inc., a Delaware corporation (“Kenvue”), completed its previously announced initial public offering (the “IPO”) of 198,734,444 shares of its common stock, par value $0.01 per share (the “Kenvue Common Stock”), including the underwriters’ full exercise of their option to purchase 25,921,884 shares to cover over-allotments, at an initial public offering price of $22.00 per share for net proceeds of $4,241 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/200406/000119312523138287/0001193125-23-138287-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.