American International Group said it expectedto close on its recapitalization plan last Friday, Jan. 14, andthat it will issue about 75 million warrants to shareholders laterthis week.

On Jan. 19, the 10-year warrants, good throughJan. 19, 2021, will be given to shareholders, who will get 0.53warrants for each share of AIG owned by Jan. 13. They will allow shareholders the opportunity to buy common stock at $45 pershare.

AIG's plan to complete its recapitalization planA share of AIG stock closed Jan. 12 at $58.20.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.