AIG Prices Secondary Offering Of Corebridge Financial Common Stock At $20.50/shr

(RTTNews) - American International Group Inc. (AIG) announced that it has priced the secondary offering of Corebridge Financial Inc. (CRBG) common stock at $20.50 per share. The offering is expected to close on November 8, 2023.

The last reported per share sale price of Corebridge Financial's common stock on November 3, 2023 was $21.08.

AIG, as the selling stockholder, has offered 50 million existing shares of common stock (out of about 631 million total shares of common stock outstanding) of Corebridge, corresponding to about $1.0 billion of proceeds.

AIG has also granted a 30-day option to the underwriters to purchase up to an additional 7.5 million shares. All of the net proceeds from the offering will go to AIG.