Compelo Insurance is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More
Close
Dismiss

AIG prices public offering of 171.05 million shares

American International Group has priced its public offering of around 171.05 million shares of common stock at $38 per share for net proceeds of approximately $6.5 billion.

In addition, AIG has granted the underwriters a 30-day option to purchase around 25.65 million shares of common stock to cover over-allotments.

The company has concurrently priced its $5.4 billion public offering of 72 million equity units, with an initial stated amount of $75 per unit. The threshold appreciation price of the equity units is $45.60, which represents a premium of 20% over the concurrent public offering price of AIG common stock of $38 per share.

The underwriters have been granted a 13-day option to purchase up to an additional 6.4 million equity units to cover over-allotments. The combined size of these two offerings has been increased from the previously announced $7.5 billion.

AIG intends to use the net proceeds from the offerings for general corporate purposes.