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AIG Announces Closing of Secondary Offering of Corebridge Financial, Inc. Common Stock
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American International Group, Inc. (NYSE: AIG) has closed a secondary offering of shares of Corebridge Financial, Inc. (NYSE: CRBG) common stock. AIG sold 35 million existing shares at a public offering price of $20.50 per share, with a 30-day option to the underwriter to purchase up to an additional 5.25 million shares. The proceeds to AIG after deducting expenses were approximately $712 million. AIG remains a majority shareholder of Corebridge Financial.
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NEW YORK--(BUSINESS WIRE)--
American International Group, Inc. (NYSE: AIG) today announced the closing of its secondary offering of shares of Corebridge Financial, Inc. (NYSE: CRBG) common stock. AIG, as the selling stockholder, sold 35 million existing shares of common stock (out of approximately 630 million total shares of common stock outstanding) of Corebridge at a public offering price of $20.50 per share, which included a 30-day option to the underwriter to purchase up to an additional 5.25 million shares. AIG remains a majority shareholder of Corebridge Financial.
The proceeds of the offering to AIG, after deducting underwriting discounts and commissions and other expenses payable by AIG, were approximately $712 million. All of the net proceeds from the offering will go to AIG.
J.P. Morgan acted as the underwriter for the offering.
The offering of common stock was made only by means of a prospectus and an accompanying prospectus supplement. Copies of the prospectus and accompanying prospectus supplement relating to the offering may be obtained by contacting J.P. Morgan via mail, email or telephone at: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717; 1-866-803-9204; prospectus-eq_fi@jpmorganchase.com.
A registration statement relating to these securities was filed with the U.S. Securities and Exchange Commission (“SEC”) on November 6, 2023 and became effective automatically. The registration statement may be obtained free of charge on the SEC’s website at www.sec.gov (EDGAR/Company Filings) under “Corebridge Financial, Inc.” This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.
About AIG
American International Group, Inc. (AIG) is a leading global insurance organization. AIG member companies provide insurance solutions that help businesses and individuals in approximately 70 countries and jurisdictions protect their assets and manage risks. AIG common stock is listed on the New York Stock Exchange.
About Corebridge Financial
Corebridge Financial, Inc. (CRBG) makes it possible for more people to take action in their financial lives. With more than $360 billion in assets under management and administration as of September 30, 2023, Corebridge Financial is one of the largest providers of retirement solutions and insurance products in the United States. We proudly partner with financial professionals and institutions to help individuals plan, save for and achieve secure financial futures. Corebridge Financial common stock is listed on the New York Stock Exchange.
What is the ticker symbol for American International Group, Inc.?
The ticker symbol for American International Group, Inc. is AIG.
What is the recent announcement from American International Group, Inc.?
American International Group, Inc. announced the closing of its secondary offering of shares of Corebridge Financial, Inc. common stock.
How many shares did AIG sell in the secondary offering?
AIG sold 35 million existing shares of Corebridge Financial, Inc. common stock.
What was the public offering price per share in the secondary offering?
The public offering price was $20.50 per share.
How much were the proceeds to AIG from the secondary offering?
The proceeds to AIG, after deducting expenses, were approximately $712 million.
Who acted as the underwriter for the offering?
J.P. Morgan acted as the underwriter for the offering.
Where can the prospectus and accompanying prospectus supplement be obtained?
Copies of the prospectus and accompanying prospectus supplement relating to the offering may be obtained by contacting J.P. Morgan via mail, email, or telephone.
When was the registration statement relating to these securities filed with the SEC?
The registration statement was filed with the U.S. Securities and Exchange Commission on November 6, 2023 and became effective automatically.
Does this press release constitute an offer to sell or the solicitation of an offer to buy these securities?
No, this press release does not constitute an offer to sell or the solicitation of an offer to buy these securities.
Where can the registration statement be obtained?
The registration statement may be obtained free of charge on the SEC’s website at www.sec.gov (EDGAR/Company Filings) under 'Corebridge Financial, Inc.'.
American International Group, Inc. is an American multinational finance and insurance corporation with operations in more than 80 countries and jurisdictions.
