NEW YORK--(Business Wire)--
American International Group, Inc. (AIG) announced today that it
priced its $6.5 billion public offering of 171,052,631 shares of
common stock at $38 per share and has granted the underwriters a
30-day option to purchase up to an additional 25,657,894 shares of
common stock to cover over-allotments.
In addition, AIG 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. AIG has granted
the underwriters 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.
Citi and JPMorgan are serving as joint bookrunning managers for
both offerings.
This release does not constitute an offer to sell or the
solicitation of an offer to buy securities. Each offering is being
made under AIG's shelf registration statement filed with the
Securities and Exchange Commission and only by means of a prospectus
supplement and accompanying prospectus. When available, a copy of the
prospectus supplement and accompanying prospectus relating to each
offering may be obtained from either (i) Citigroup Global Markets
Inc., Attn: Prospectus Department, Brooklyn Army Terminal 140, 58th
Street, 8th Floor, Brooklyn, New York 11220 or by calling (800)
831-9146; or (ii) J.P. Morgan Securities Inc., 4 Chase Metrotech
Center, CS Level, Brooklyn, NY 11245, Attention: Prospectus
Department, email: addressing.services@jpmorgan.com or by calling
(718) 242-8002.
American International Group, Inc. (AIG), a world leader in
insurance and financial services, is the leading international
insurance organization with operations in more than 130 countries and
jurisdictions. AIG companies serve commercial, institutional and
individual customers through the most extensive worldwide
property-casualty and life insurance networks of any insurer. In
addition, AIG companies are leading providers of retirement services,
financial services and asset management around the world. AIG's common
stock is listed on the New York Stock Exchange, as well as the stock
exchanges in Ireland and Tokyo.
American International Group, Inc.
Investment Community:
Charlene Hamrah, 212-770-7074
or
News Media:
Chris Winans, 212-770-7083
Copyright Business Wire 2008
