AXA Equitable Holdings, Inc. Announces Pricing of Secondary Common Stock Offering by AXA S.A.
November 15 2018 - 9:15PM
Business Wire
AXA Equitable Holdings, Inc. (the “Company”) announced today the
pricing of a secondary public offering of 60,000,000 shares of its
common stock at a public offering price of $20.25 per share by AXA
S.A., as selling stockholder (“AXA”). The Company will not receive
any proceeds from the sale of shares by AXA. The secondary public
offering is expected to close on November 20, 2018.
In connection with the secondary public offering, the selling
stockholder has granted the underwriters a 30-day option to
purchase up to an additional 9,000,000 shares of common stock.
In connection with the secondary public offering, the Company
has entered into a share repurchase agreement with AXA pursuant to
which the Company will acquire from AXA, subject to specified terms
and conditions, 30,000,000 shares of the Company’s common stock.
The purchase price per share of common stock to be paid by the
Company will be equal to the per share purchase price paid by the
underwriters in the secondary offering, corresponding to an
aggregate purchase price of approximately $0.6 billion.
J.P. Morgan, Morgan Stanley and Citigroup are acting as joint
lead book-running managers and underwriters for the offering.
Barclays, BNP Paribas, Credit Agricole CIB, Goldman Sachs & Co.
LLC, HSBC, Natixis, Societe Generale, BBVA, ING and UniCredit acted
as joint book-running managers and underwriters for the
offering.
A registration statement relating to the proposed offering has
been filed with, and declared effective by, the U.S. Securities and
Exchange Commission. Copies of the prospectus relating to the
offering may be obtained from: J.P. Morgan Securities LLC, c/o
Broadridge Financial Solutions, Attention: Prospectus Department,
1155 Long Island Avenue, Edgewood, New York 11717 or telephone:
866-803-9204; Morgan Stanley & Co. LLC, Attention: Prospectus
Department, 180 Varick Street, 2nd Floor, New York, New York 10014;
and Citigroup Global Markets Inc., c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or
telephone: 800-831-9146.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities, and shall not
constitute an offer, solicitation or sale in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of that
jurisdiction.
ABOUT AXA EQUITABLE HOLDINGS
AXA Equitable Holdings, Inc. (NYSE: EQH) is one of the leading
financial services companies in the U.S. and is comprised of two
complementary and well-established principal franchises, AXA
Equitable Life Insurance Company and AllianceBernstein. We have
been helping clients prepare for their financial future since 1859
and have a combined total of more than 12,100 employees and
financial professionals, 5.3 million customer relationships and
$668 billion of assets under management (as of 09/30/18).
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AXA Equitable Holdings, Inc.Investor
Relations:Kevin Molloy, +1.212.314.2476Media
Relations:Gina Tyler, +1.212.314.2010
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