AIG Announces Pricing Of $1B Secondary Offering Of 50M Shares Of Corebridge Financial, Inc. Common Stock At A Price Of $20.50 Per Share
Portfolio Pulse from Benzinga Newsdesk
American International Group (AIG) has priced the secondary offering of Corebridge Financial (CRBG) common stock at $20.50 per share. AIG is offering 50 million shares, with potential proceeds of approximately $1.0 billion. The offering is expected to close on November 8, 2023. Goldman Sachs and J.P. Morgan are the underwriters for the offering.
November 06, 2023 | 2:13 pm
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POSITIVE IMPACT
AIG is selling 50 million shares of CRBG, which could generate approximately $1.0 billion in proceeds. This could potentially strengthen AIG's financial position.
The sale of CRBG shares could generate significant proceeds for AIG, potentially strengthening its financial position and possibly leading to a positive impact on its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
AIG's secondary offering could increase the liquidity of CRBG shares in the market. However, the increased supply could also put downward pressure on the stock's price.
The secondary offering could increase the liquidity of CRBG shares in the market, which is generally positive. However, the increased supply of shares could also put downward pressure on the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100