AIG Announces Pricing of Secondary Offering of Corebridge Financial, Inc. Common Stock
December 01 2023 - 9:07AM
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 December 5, 2023, subject to customary closing
conditions.
AIG, as the selling stockholder, has offered 35 million existing
shares of common stock (out of approximately 630 million total
shares of common stock outstanding) of Corebridge, corresponding to
approximately $718 million of gross proceeds. AIG has also granted
a 30-day option to the underwriter to purchase up to an additional
5.25 million shares. AIG will remain a majority shareholder of
Corebridge Financial upon completion of this offering. All of the
net proceeds from the offering will go to AIG.
J.P. Morgan is acting as the underwriter for the offering. The
underwriter may offer the shares of common stock from time to time
for sale in one or more transactions on the NYSE, in the
over-the-counter market, through negotiated transactions or
otherwise at market prices prevailing at the time of sale, at
prices related to prevailing market prices or at negotiated
prices.
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 by contacting J.P. Morgan via mail,
telephone or email 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 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. (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.
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version on businesswire.com: https://www.businesswire.com/news/home/20231201020740/en/
Quentin McMillan (Investors): quentin.mcmillan@aig.com Claire
Talcott (Media): claire.talcott@aig.com
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