Corbridge Financial Announces Secondary Stock Offering by AIG
Corebridge Financial, Inc. (NYSE: CRBG) has announced a secondary offering of its common stock by American International Group, Inc. (NYSE: AIG). AIG, acting as the selling stockholder, plans to offer 30 million shares of Corbridge Financial’s common stock, out of a total of approximately 568 million outstanding shares. Additionally, AIG has granted the underwriters a 30-day option to purchase up to an additional 4.5 million shares. The proceeds from this offering will be directed entirely to AIG. As of November 6, 2024, the closing price of Corbridge Financial’s stock was $33.37 per share.
The offering is being managed by J.P. Morgan and Morgan Stanley as underwriters. They may sell the shares through various methods, including transactions on the NYSE, over-the-counter markets, negotiated deals, or other arrangements. The shares may be offered at market prices, prices linked to market performance, or negotiated prices.
The stock offering is made exclusively through a prospectus and an accompanying prospectus supplement. Interested investors can obtain copies from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by emailing [email protected] and [email protected]. Copies can also be requested from Morgan Stanley & Co. LLC at 180 Varick Street, 2nd Floor, New York, NY, 10014.
A registration statement for this offering was filed with the U.S. Securities and Exchange Commission (SEC) on November 6, 2023, and became effective automatically. The registration statement is available for free on the SEC’s website under the filings for “Corebridge Financial, Inc.”
This press release does not constitute an offer to sell or solicit an offer to buy these securities in any state or jurisdiction where such offers would be illegal before proper registration or qualification under local securities laws. All transactions will comply with the registration requirements of the Securities Act of 1933, as amended.
About Corebridge Financial
Corebridge Financial, Inc. makes it possible for more people to take action in their financial lives. With more than $410 billion in assets under management and administration as of September 30, 2024, 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.
