04:49 AM EDT, 05/31/2024 (MT Newswires) -- American International Group ( AIG ) said Thursday it priced a secondary offering of Corebridge Financial ( CRBG ) common shares at $29.20 per share.

As the selling stockholder, American International has offered 30 million common shares out of about 608 million shares outstanding of Corebridge Financial ( CRBG ), targeting gross proceeds of about $876 million.

The selling stockholder has also granted a 30-day option to the underwriter to purchase up to an additional 4.5 million shares.

All of the net proceeds from the offering will go to American International.

The offering will likely close on June 3.

Price: 77.95, Change: -0.30, Percent Change: -0.38