American National Group Inc. announced the full redemption of its 6.625% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series B.
The redemption includes the corresponding depositary shares representing interests in the Series B Preferred Stock.
The Company also stated its intent to voluntarily delist and deregister the Depositary Shares.
Redemption Details
12,000 outstanding shares of Series B Preferred Stock and the corresponding 12,000,000 depositary shares will be redeemed on October 6, 2025.
Redemption Price
Each Depositary Share will be redeemed for $25.00, plus any declared but unpaid dividends.
Delisting and Deregistration
The Company plans to delist the Depositary Shares from NYSE and deregister them from the SEC post-Redemption.
- Upon redemption, no Series B Preferred Stock or Depositary Shares will remain outstanding.
- Investors should contact their bank or broker for information on obtaining the Redemption Price for Depositary Shares.
The redemption of Series B Preferred Stock signifies a strategic move by American National Group Inc. to optimize its capital structure and streamline operations.