New York, May 31, 2024–(BUSINESS WIRE)–American International Group (NYSE: AIG) today announced that it has priced its offering of CoreBridge Financial (NYSE: CRBG) common stock at $29.20 per share, which is expected to close on June 3, 2024, subject to customary closing conditions.
AIG, as the selling stockholder, is offering 30 million shares of Corebridge Financial's existing common stock (out of approximately 608 million total issued and outstanding common shares), representing gross proceeds of approximately $876 million. AIG has also granted the underwriters a 30-day option to purchase up to an additional 4.5 million shares. All net proceeds from the offering will be paid to AIG.
Morgan Stanley & Co. LLC is acting as underwriter for the offering. The underwriters may sell the common shares from time to time in one or more transactions on the New York Stock Exchange, in the over-the-counter market, in negotiated transactions or otherwise at market prices, prices related to market prices or negotiated prices at the time of sale.
The offering of common stock is being made only by means of a prospectus and an accompanying preliminary prospectus supplement. Copies of the prospectus and accompanying preliminary prospectus supplement relating to the offering may be obtained by contacting Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY, 10014, by mail at:
A registration statement relating to these securities was filed with the U.S. Securities and Exchange Commission on November 6, 2023 and became automatically effective. The registration statement is available for free on 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, nor shall it 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 any such state or jurisdiction. Any offer, solicitation or offer to buy or sale of the securities will be made pursuant to the registration requirements of the Securities Act of 1933, as amended.
About AIG
American International Group, Inc. (NYSE: AIG) is one of the world's leading insurance companies. Through its operations and network partners, AIG provides insurance solutions to help businesses and individuals in approximately 190 countries and territories protect their assets and manage their risks.
About Corebridge Financial
Corebridge Financial, Inc. (NYSE: CRBG) empowers more people to take action in their financial lives. With more than $390 billion in assets under management and administration as of March 31, 2024, Corebridge Financial is one of the largest providers of retirement solutions and insurance products in the U.S. We proudly partner with financial professionals and financial institutions to help individuals plan, save and achieve a secure financial future.
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contact address
Quentin McMillan (Investor): quentin.mcmillan@aig.com
Claire Talcott (Media): claire.talcott@aig.com
