American National Completes Full Redemption of Outstanding Depositary Shares Representing Interests in its 6.625% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series B
American National (NYSE: ANG) completed the full redemption of all 12,000 outstanding shares of its 6.625% Series B preferred stock and the corresponding 12,000,000 depositary shares on October 6, 2025.
The redemption price was $25.00 per depositary share plus accrued but unpaid dividends through the redemption date. The company funded the Redemption with net proceeds from its previously announced $500,000,000 sale of 7.000% junior subordinated notes due 2055.
All rights in the Series B preferred and depositary shares have ceased except holders' rights to receive the Redemption Price. NYSE suspended trading of the depositary shares and filed Form 25 to delist them; the company intends to file Form 15 and expects deregistration to become effective about 90 days after filing.
American National (NYSE: ANG) ha completato la piena rimborso di tutte le 12.000 azioni ordinarie in circolazione della sua 6,625% Serie B azioni privilegiate e delle corrispondenti 12.000.000 azioni depositarie il 6 ottobre 2025.
Il prezzo di rimborso è stato $25,00 per azione depositaria più i dividendi maturati ma non ancora pagati fino alla data di rimborso. L'azienda ha finanziato il rimborso con i proventi netti dalla vendita precedentemente annunciata di $500.000.000 di note subordinate junior al 7,000% scadenza 2055.
Tutti i diritti sulle azioni privilegiate della Serie B e sulle azioni depositarie sono cessati, ad eccezione dei diritti dei detentori di ricevere il Prezzo di Rimborso. NYSE ha sospeso la negoziazione delle azioni depositarie e ha presentato il Modulo 25 per la cancellazione dall'elenco; la società intende presentare il Modulo 15 e si aspetta che la deregistrazione diventi effettiva circa 90 giorni dopo la presentazione.
American National (NYSE: ANG) completó el canje total de las 12,000 acciones en circulación de su serie B de 6,625% y de las 12,000,000 de acciones depositarias correspondientes el 6 de octubre de 2025.
El precio de rescate fue $25.00 por acción depositaria más los dividendos acumulados pero no pagados hasta la fecha de rescate. La compañía financió el rescate con los ingresos netos de la venta previamente anunciada de $500,000,000 de notas subordinadas junior al 7.000% con vencimiento en 2055.
Todos los derechos sobre las acciones preferentes de la Serie B y sobre las acciones depositarias han cesado, excepto los derechos de los tenedores para recibir el Precio de Rescate. NYSE suspendió la negociación de las acciones depositarias y presentó el Formulario 25 para deslistar; la empresa tiene la intención de presentar el Formulario 15 y espera que la desregistración entre en vigor aproximadamente 90 días después de la presentación.
American National (NYSE: ANG)은/는 6.625% 시리즈 B 우선주와 이에 상응하는 12,000,000 주의 예탁주를 2025년 10월 6일에 전량 상환했습니다.
상환 가격은 예탁주당 $25.00이며 상환일까지 누적되었으나 아직 지급되지 않은 배당금이 포함됩니다. 회사는 이전에 발표한 $500,000,000의 7.000% 주니어 서브ordinated 채권 만기 2055년 매각의 순수익으로 상환을 조달했습니다.
시리즈 B 우선주 및 예탁주에 대한 모든 권리는 상환 금액 수령 권리를 제외하고는 소멸되었습니다. NYSE는 예탁주 거래를 중단했고 상장폐지용 Form 25를 제출했으며, 회사는 Form 15를 제출할 예정이며 약 90일 후에 deregistration이 효력을 발휘할 것으로 기대합니다.
American National (NYSE: ANG) a procédé au rachat complet de l’ensemble des 12 000 actions privilégiées de série B à 6,625% et des 12 000 000 d’actions dépositaires associées le 6 octobre 2025.
Le prix de rachat était de $25,00 par action dépositaire plus les dividendes courus mais non encore payés jusqu’à la date de rachat. La société a financé ce rachat avec le produit net de la vente précédemment annoncée de $500 000 000 d’obligations subordonnées junior à 7,000% échéance 2055.
Tous les droits sur les actions privilégiées de la Série B et sur les actions dépositaires ont cessé, à l’exception des droits des détenteurs à recevoir le Prix de Rachat. Le NYSE a suspendu la négociation des actions dépositaires et a déposé le Formulaire 25 en vue de la radiation; la société prévoit de déposer le Formulaire 15 et s’attend à ce que la radiation devienne effective environ 90 jours après le dépôt.
American National (NYSE: ANG) hat die vollständige Rückzahlung aller 12.000 ausstehenden Aktien seiner 6,625%-Serie-B-Privataktien sowie der entsprechenden 12.000.000 Depositary Shares am 6. Oktober 2025 abgeschlossen.
Der Rücknahmepreis betrug $25,00 pro Depositary Share zuzüglich der bis zum Rücknahmedatum aufgelaufenen, aber nicht gezahlten Dividenden. Das Unternehmen finanzierte die Rückzahlung aus den Nettoprovenuen des zuvor angekündigten Verkaufs von $500.000.000 an 7,000%-Junior-Subordinated Notes fällig 2055.
Alle Rechte an der Serie-B-Privataktie und an den Depositary Shares endeten, außer dem Recht der Inhaber, den Rücknahmepreis zu erhalten. Die NYSE hat den Handel mit den Depositary Shares ausgesetzt und Form 25 zur Delistung eingereicht; das Unternehmen plant die Einreichung von Form 15 und rechnet damit, dass die Deregistrierung etwa 90 Tage nach der Einreichung wirksam wird.
American National (NYSE: ANG) أكمل سداد كامل لجميع 12,000 سهم من الأسهم الممتازة من الفئة B بنسبة 6.625% والـ 12,000,000 من الأسهم التسّدية المقابلة في 6 أكتوبر 2025.
كان سعر الاسترداد $25.00 للسهم التسّدي بالإضافة إلى توزيعات أرباح مكتسبة لكنها غير مدفوعة حتى تاريخ الاسترداد. موّلت الشركة الاسترداد من صافي عائدات بيعها المعلن سابقاً بقيمة $500,000,000 من سندات قاعدية جامدة فرعية ذات فائدة 7.000% وتاريخ الاستحقاق 2055.
جميع الحقوق في الأسهم الممتازة من الفئة B والأسهم التسّدية قد توقفت باستثناء حقوق حامليها في استلام سعر الاسترداد. قامت NYSE بتعليق التداول على الأسهم التسّدية وقدمّت النموذج 25 لإقصاء الإدراج؛ تعتزم الشركة تقديم النموذج 15 وتتوقع أن تصبح إلغاء التسجيل ساري المفعول نحو 90 يوماً بعد التقديم.
American National (NYSE: ANG) 已在 2025年10月6日 全部赎回其流通中的 6.625% 第B系列优先股及相应的 12,000,000 股托管股。
赎回价格为 $25.00 每股托管股，并加上至赎回日尚未支付的累计股息。本公司使用此前宣布的 $500,000,000 的净收益来资助赎回，该净收益来自于 7.000%、到期日为 2055 年的次级本金票据的销售。
系列 B 优先股和托管股的所有权利已终止，除持有人获得赎回价格的权利之外。NYSE 已暂停托管股的交易并提交 Form 25 以退市；公司计划提交 Form 15，预计在提交后约 90 天生效的 Deregistration（注销注册）将生效。
- Completed redemption of 12,000 Series B preferred shares
- Redemption funded with $500,000,000 net proceeds from notes issuance
- Eliminates ongoing dividend obligations on Series B preferred shares
- Issued $500,000,000 of 7.000% junior subordinated notes due 2055, adding fixed interest expense
- Depositary shares delisted from NYSE and expected to be deregistered in ~90 days
Insights
Company redeemed all Series B depositary shares using proceeds from a new subordinated note offering; trading/deregistration steps underway.
The company completed redemption of all 12,000,000 depositary shares and corresponding Series B preferred shares at a
Key dependencies and risks include the higher explicit interest obligation on the new notes versus the prior preferred dividend treatment and the perpetual or long-dated nature of the notes to
Redemption removes a preferred tranche and introduces long-term subordinated notes, altering claim priority and ongoing cash interest needs.
The transaction extinguished all rights in the Series B preferred and depositary shares, leaving only the obligation to pay the redemption amount, and simultaneously added
Monitor upcoming SEC filings for the Form 15 and the Form 25 removal, and review upcoming financial statements for how the new notes are classified and for any covenant or subordination details disclosed; expect the immediate effect to show in the next quarterly balance sheet and interest expense line within the next reporting period.
HOUSTON, Oct. 06, 2025 (GLOBE NEWSWIRE) -- American National Group Inc. (the “Company”) (NYSE: ANG PRB) today announced that the Company has completed the previously announced redemption (the “Redemption”) of all the 12,000 outstanding shares of its
None of the Series B Preferred Stock or Depositary Shares remain outstanding, and all rights with respect to such stock or depositary shares have ceased and terminated except only the right of the holders of the Depositary Shares to receive the Redemption Price, without interest. Investors in the Depositary Shares should contact the bank or broker through which they held a beneficial interest in the Depositary Shares for information about obtaining the Redemption Price for the Depositary Shares in which they had a beneficial interest.
In connection with the Redemption, the New York Stock Exchange (“NYSE”) has suspended trading of the Depositary Shares effective prior to the opening of trading on the Redemption Date. NYSE has filed with the Securities and Exchange Commission (the “SEC”) a notification of removal from listing and registration on Form 25 to effect the delisting of all of the Depositary Shares from NYSE. In addition, the Company intends to file a certification on Form 15 with the SEC requesting the termination of registration of all of the Depositary Shares. Deregistration of the Depositary Shares is expected to become effective 90 days after the Form 15 is filed.
ABOUT AMERICAN NATIONAL GROUP INC.
American National Group Inc. offers a broad array of insurance products and services, including retail and institutional annuities. Business is conducted through its subsidiaries in all 50 U.S. states, the District of Columbia, Puerto Rico and Bermuda. For more information, please visit AmericanNational.com/home/about-us/investor-relations.
Forward-Looking Statements
All statements contained in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended. Forward-looking statements give expectations or forecasts of future events and do not relate strictly to historical or current facts. They may relate to markets for our products, trends in our operations or financial results, strategic alternatives, future operations, strategies, plans, partnerships, investments, share buybacks and other financial developments. They use words and terms such as “anticipate,” “assume,” “believe,” “can,” “continue,” “could,” “enable,” “estimate,” “expect,” “foreseeable,” “goal,” “improve,” “intend,” “likely,” “may,” “model,” “objective,” “opportunity,” “outlook,” “plan,” “potential,” “project,” “remain,” “risk,” “seek,” “should,” “strategy,” “target,” “will,” “would,” and other words and terms of similar meaning or that are otherwise tied to future periods or future performance, in each case in all forms of speech and derivative forms, or similar words, as well as any projections of future events or results. Forward-looking statements, by their nature, are subject to a variety of assumptions, risks, and uncertainties that could cause actual results to differ materially from the results projected. Many of these risks and uncertainties cannot be controlled by the Company. Factors that may cause our actual decisions or results to differ materially from those contemplated by these forward-looking statements include, among other things, the factors set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, as updated by the Company’s Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2025 and June 30, 2025 and any other documents we file with the SEC.
Forward-looking statements speak only as of the date the statement was made and the Company undertakes no obligation to update such forward-looking statements except as required by law. There can be no assurance that other factors not currently disclosed or anticipated by the Company will not materially adversely affect our results of operations or plans. Investors are cautioned not to place undue reliance on any forward-looking statements made by us or on our behalf.
| Contact: | Steven Schwartz |
| Treasurer, Head of Investor Relations | |
| 888-221-1234 ext. 3763 | |
| sschwartz@american-equity.com |
FAQ
What did American National (ANG) redeem on October 6, 2025?
How much did the redemption of ANG PRB cost per depositary share?
How was the ANG redemption funded?
Will ANG depositary shares remain listed on the NYSE after the redemption?
What step will ANG take to stop SEC registration of the depositary shares?
How can investors receive the Redemption Price for ANG depositary shares?
