Business & Finance
Wed, September 12, 2012 
NEW YORK--([ BUSINESS WIRE ])--American International Group, Inc. (NYSE: AIG) today announced that the U.S. Department of the Treasury (Treasury) expects to receive approximately an additional $2.7 billion from its underwritten public offering of AIG common stock. The underwriters have exercised their over-allotment option in full to purchase approximately 83.1 million additional shares of AIG common stock at the initial public offering price of $32.50 per share.
On September 10, 2012, Treasury had priced an offering of approximately 553.8 million shares of its AIG common stock at the initial public offering price of $32.50 per share, for expected proceeds of approximately $18.0 billion. In connection with Treasuryas offering, AIG agreed to purchase approximately 153.8 million shares of AIG common stock in the offering at the initial public offering price for an aggregate purchase amount of approximately $5.0 billion. Combined with the exercise of the over-allotment option, Treasuryas proceeds from the public offering are expected to be approximately $20.7 billion and the total number of shares sold in the offering is expected to be approximately 636.9 million.
Treasury currently owns approximately 53.4 percent of AIGas common stock outstanding. With the completion of this offering and the exercise of the over-allotment option, and an approximately $5 billion share purchase by AIG at the initial public offering price of $32.50 per share, Treasury will own approximately 15.9 percent of AIGas common stock outstanding.
Citigroup, Deutsche Bank Securities Inc., Goldman, Sachs & Co., and J.P. Morgan Securities LLC have been retained as joint global coordinators for the offering. BofA Merrill Lynch, Barclays Capital Inc., Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, UBS Securities LLC, Wells Fargo Securities, LLC and Credit Suisse Securities (USA) LLC have been retained as joint book-runners for the offering.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
This press release contains aforward-looking statementsa within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, no assurance can be given that the offering or purchase will be completed. These forward-looking statements are not historical facts but instead represent only AIGas belief regarding future events, many of which, by their nature, are inherently uncertain and outside AIGas control. Except for AIGas ongoing obligation to disclose material information as required by federal securities laws, AIG is not under any obligation (and expressly disclaims any obligation) to update or alter any projections, goals, assumptions, or other statements, whether written or oral, that may be made from time to time, whether as a result of new information, future events or otherwise.
The offering is being made under AIGas 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 the offering may be obtained from the Securities and Exchange Commissionas Web site at [ www.sec.gov ] or by contacting any of (i) Citigroup Global Markets Inc., Attn: Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, New York 11220, by calling 800-831-9146 or emailing [ batprospectusdept@citi.com ], (ii) Deutsche Bank Securities Inc., Attn: Prospectus Group, 60 Wall Street, New York, NY 10005-2836, by calling 1-800-503-4611, or by emailing [ prospectus.cpdg@db.com ], (iii) Goldman, Sachs & Co. Attn: Prospectus Department, 200 West Street, New York, New York 10282, by calling toll-free 866-471-2526, by faxing 212-902-9316 or by emailing [ prospectus-ny@ny.gmail.gs.com ], or (iv) J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by calling 866 803-9204.
American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.
