American International Group, Inc. AIG announced today that it
completed the repurchase of warrants issued to the United States Department of
the Treasury (U.S. Treasury) in 2008 and 2009. The warrant issued in 2008
provided the right to purchase approximately 2.7 million shares of AIG common
stock at $50.00 per share, and the warrant issued in 2009 provided the right
to purchase up to 150 shares of AIG common stock at $0.00002 per share. AIG
and the U.S. Treasury agreed upon a repurchase price of approximately $25
million for the warrants. The U.S. Treasury does not have any residual
interest in AIG after AIG's repurchase of these warrants.
“With AIG repurchasing all outstanding warrants issued to the U.S. Treasury,
we are turning the final page on America's assistance to AIG,” said Robert H.
Benmosche, AIG President and Chief Executive Officer. “We appreciate the
opportunities this support allowed and are proud to have returned to America
every cent plus a profit of $22.7 billion.”
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