AIG Announces Launch Of Secondary Offering Of 65M Shares Of Corebridge Financial Common Stock
Portfolio Pulse from Benzinga Newsdesk
AIG is launching a secondary offering of 65 million shares of Corebridge Financial common stock, with a 30-day option for underwriters to purchase up to an additional 9.75 million shares. All net proceeds will go to AIG.
June 05, 2023 | 8:15 pm
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AIG is offering 65 million shares of Corebridge Financial common stock in a secondary offering, with potential for underwriters to purchase an additional 9.75 million shares.
AIG is the selling stockholder in this secondary offering, which could potentially increase their cash position. However, the short-term impact on the stock price is uncertain, as the market may have already priced in this information.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
AIG is offering 65 million shares of Corebridge Financial common stock in a secondary offering, with potential for underwriters to purchase an additional 9.75 million shares.
The secondary offering could increase the liquidity of Corebridge Financial's stock, but the short-term impact on the stock price is uncertain. The market may have already priced in this information, and the offering could have both positive and negative effects on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100