An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
AIG Announces Pricing of Secondary Offering of Corebridge Financial, Inc. Common Stock
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
American International Group, Inc. (NYSE: AIG) has priced the secondary offering of Corebridge Financial, Inc. (NYSE: CRBG) common stock at $20.50 per share. AIG is selling 50 million existing shares, raising approximately $1.0 billion in proceeds. The offering is expected to close on November 8, 2023.
Positive
None.
Negative
None.
NEW YORK--(BUSINESS WIRE)--
American International Group, Inc. (NYSE: AIG) today announced that it has priced the secondary offering of Corebridge Financial, Inc. (NYSE: CRBG) common stock at $20.50 per share. The offering is expected to close on November 8, 2023, subject to customary closing conditions.
AIG, as the selling stockholder, has offered 50 million existing shares of common stock (out of approximately 631 million total shares of common stock outstanding) of Corebridge, corresponding to approximately $1.0 billion of proceeds. AIG has also granted a 30-day option to the underwriters to purchase up to an additional 7.5 million shares. All of the net proceeds from the offering will go to AIG.
Goldman Sachs & Co. LLC and J.P. Morgan are acting as the underwriters for the offering.
The offering of common stock is being 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 from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526, or by emailing prospectus-ny@ny.email.gs.com; and J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 1-866-803-9204 or by email at prospectus-eq_fi@jpmorganchase.com.
A registration statement relating to these securities was filed with the U.S. Securities and Exchange Commission on November 6, 2023 and became effective automatically. The registration statement may be obtained free of charge at 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. (NYSE: 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 approximately 70 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’s common stock is listed on the New York Stock Exchange.
About Corebridge Financial
Corebridge Financial, Inc. (NYSE: 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’s common stock is listed on the New York Stock Exchange.
