AIG Announces Adjustments to Warrant Exercise Price and Shares Receivable upon Warrant Exercise

Rhea-AI Summary

American International Group, Inc. (AIG) announced adjustments to the outstanding warrants expiring January 19, 2021. The warrant exercise price is reduced from $42.4151 to $42.2282, while the number of shares receivable increases from 1.062 to 1.067. These changes take effect on December 14, 2020, following a $0.32 per share dividend declared on November 5, 2020, payable on December 28, 2020. AIG provides diverse insurance and financial services worldwide, with common stock listed on the NYSE.

Positive

• Warrant exercise price reduced to $42.2282 from $42.4151.
• Increase in shares receivable from 1.062 to 1.067.
• Dividend of $0.32 per share declared, enhancing shareholder value.

Negative

• None.

NEW YORK--(BUSINESS WIRE)--American International Group, Inc. (NYSE: AIG) today announced that in accordance with the terms of the outstanding warrants expiring January 19, 2021 (CUSIP number 026874156) (the “Warrants”) to purchase shares of AIG Common Stock, par value $2.50 per share, the Warrant exercise price will be reduced to $42.2282 per share from $42.4151 per share and the number of shares of AIG Common Stock receivable upon Warrant exercise will increase to 1.067 from 1.062. Each of these adjustments will be effective at the close of business on December 14, 2020. Any Warrant exercised on or prior to December 14, 2020 will not be entitled to these adjustments.

These adjustments resulted from the declaration by the Board of Directors of AIG on November 5, 2020 of a dividend of $0.32 per share on AIG Common Stock. The dividend is payable on December 28, 2020 to stockholders of record at the close of business on December 14, 2020.

Further information on the Warrants and the adjustments to the Warrant exercise price and number of shares of AIG Common Stock receivable upon Warrant exercise, including the U.S. Federal income tax treatment of these adjustments, is available in the Investors section of AIG’s website.

American International Group, Inc. (AIG) is a leading global insurance organization. AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange.

Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIGinsurance www.twitter.com/AIGinsurance | LinkedIn: www.linkedin.com/company/aig. These references with additional information about AIG have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.