Corebridge Financial, Inc. (CRBG) has announced that American International Group Inc. (AIG) has set the price for its secondary offering of Corebridge Financial’s common stock at $31.20 per share. This transaction is anticipated to be completed by November 12, 2024.
In this offering, AIG, the selling stockholder, is putting forth 30 million shares of Corebridge Financial's common stock, which translates to approximately $936 million in gross proceeds. Additionally, AIG has provided the underwriters with a 30-day option to purchase up to an extra 4.5 million shares. All net proceeds from this offering will be directed to AIG.
The transaction is being underwritten by J.P. Morgan and Morgan Stanley.
