AIG Announces Launch Of Secondary Offering Of 50M Existing Shares Corebridge Financial Common Stock
Portfolio Pulse from Benzinga Newsdesk
AIG is offering 50 million existing shares of Corebridge Financial's common stock and has granted a 30-day option to the underwriters to purchase up to an additional 7.5 million shares. All net proceeds from the offering will go to AIG.
November 06, 2023 | 11:14 am
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NEGATIVE IMPACT
AIG is selling 50 million shares of Corebridge Financial, which could impact the stock's price due to the increased supply.
The sale of 50 million shares of Corebridge Financial by AIG could increase the supply of the stock in the market. This could potentially lead to a decrease in Corebridge Financial's stock price in the short term due to the laws of supply and demand.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
AIG is selling 50 million shares of Corebridge Financial, with potential for an additional 7.5 million shares. The proceeds will benefit AIG.
The sale of Corebridge Financial shares will provide AIG with additional capital, which could be used for various corporate purposes. This could potentially strengthen AIG's financial position and be viewed positively by investors, leading to a potential increase in AIG's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100