Corebridge Financial Announces Pricing of Secondary Offering of Common Stock by AIG
Corebridge Financial, Inc. (NYSE: CRBG) has announced the pricing of its previously disclosed secondary offering of common stock by American International Group, Inc. (NYSE: AIG). The offering is set at $31.20 per share, with the transaction expected to close on November 12, 2024, pending standard closing conditions.
In this secondary offering, AIG, the selling stockholder, is offering 30 million existing shares of Corebridge Financial’s common stock. This represents a portion of the approximately 568 million total shares outstanding, with an estimated gross proceeds of $936 million. Additionally, AIG has granted the underwriters a 30-day option to purchase up to an extra 4.5 million shares. The entire proceeds from this sale will be directed to AIG.
J.P. Morgan and Morgan Stanley are the underwriters for the offering. The shares may be sold through various methods, including transactions on the NYSE, over-the-counter markets, negotiated sales, or other avenues at prevailing market rates or negotiated prices.
The offering is being conducted solely via a prospectus and an accompanying prospectus supplement. Interested parties can obtain copies of these documents from:
- J.P. Morgan Securities LLC
c/o Broadridge Financial Solutions
1155 Long Island Avenue, Edgewood, NY 11717
Email: [email protected] or [email protected] - Morgan Stanley & Co. LLC
180 Varick Street, 2nd Floor, New York, NY 10014
The registration statement for this offering was filed with the U.S. Securities and Exchange Commission (SEC) on November 6, 2023, and became effective automatically. It is available for free on the SEC’s website at www.sec.gov under “Corebridge Financial, Inc.”
This announcement is for informational purposes only and does not constitute an offer to sell or a solicitation to buy these securities. Sales will comply with the registration requirements under the Securities Act of 1933, as amended, and will not occur in any jurisdiction where such an offer or sale would be illegal prior to registration or qualification.
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.
