NEW YORK–(BUSINESS WIRE)–American International Group, Inc. (NYSE: AIG) today announced that it has priced the initial public offering (“IPO”) of Corebridge Financial, Inc. (“Corebridge,” formerly “SAFG Retirement Services”). , Inc.”) to USD 21 per share, and expects to begin trading tomorrow, September 15, 2022. The offering is expected to close on September 19, 2022, subject to customary closing conditions.
AIG, as selling shareholder, is offering 80 million existing common shares (out of a total of 645 million common shares) of Corebridge, corresponding to approximately $1.7 billion in gross proceeds. The shares will trade on the New York Stock Exchange under the symbol “CRBG”.
AIG has also granted a 30-day option to the underwriters to purchase up to an additional 12 million shares of Corebridge common stock.
JP Morgan is acting as Global Coordinator and Lead Active Bookrunner for the offering. Morgan Stanley and Piper Sandler are also acting as Lead Active Bookrunners for the offering. BofA Securities, Citigroup and Goldman Sachs & Co. LLC are acting as Active Bookrunners for the offering.
The offering of these securities is made solely by means of a prospectus. A registration statement relating to the IPO has been filed with and declared effective by the United States Securities and Exchange Commission on September 14, 2022. Copies of the registration statement and final prospectus , when available, may be obtained from: JP Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 1-866-803-9204 or by email [email protected]; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; Piper Sandler & Co., Attention: Piper Sandler & Co., 1251 Avenue of the Americas, 6th Floor, New York, NY 10020, or by phone at 1-800-747-3924 or by email at [email protected]; BofA Securities, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255, or by email at [email protected]; Citigroup Global Markets Inc., Attn: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 1-800-831-9146; and Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by phone at 1-866-471-2526 or by email at [email protected] .
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, and does not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer, solicitation or sale would be illegal prior to registration. or qualification under the securities laws of such state or jurisdiction. Any offer, solicitation or offer to buy or sell securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.
American International Group, Inc. (AIG) is a world leader in insurance. AIG member companies provide a wide range of property and casualty insurance, life insurance, retirement solutions and other financial services to customers in approximately 70 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect assets, manage risk and provide retirement security. AIG’s common stock is listed on the New York Stock Exchange.
About Corebridge Financial
Corebridge Financial empowers more people to take action in their financial lives. With over $350 billion in assets under management and administration as of June 30, 2022, Corebridge is one of the largest providers of retirement solutions and insurance products in the United States. We are proud to partner with financial professionals and institutions to help individuals plan, save and achieve a secure financial future.