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AXA Equitable Holdings, Inc. Announces Closing of Secondary Common Stock Offering By AXA S.A.

NEW YORK--(BUSINESS WIRE)--

AXA Equitable Holdings, Inc. (the “Company”) announced today that AXA S.A., as selling stockholder (“AXA”), successfully completed a secondary public offering of 40,000,000 shares1 (the “Offering”) of the Company’s common stock, at a public offering price of $20.50 per share, and the sale to the Company of 30,000,000 shares (the “Share Buyback”) of the Company’s common stock at the per share price paid by the underwriters in the Offering. In addition, the underwriters exercised in full their over-allotment option to purchase an additional 6,000,000 shares of the Company’s common stock.

The Company did not receive any proceeds from the Offering. Following the Offering and the Share Buyback, AXA’s ownership in the Company decreased from 60.1% to 48.3%. As a result of the Offering and Share Buyback, the Company is no longer a controlled company.

“Today marks an exciting new chapter for an institution that began in 1859 as The Equitable Life Assurance Society,” said Mark Pearson, President and Chief Executive Officer of AXA Equitable Holdings. “We are once again one of the largest independent financial services companies in the U.S. And we remain committed to delivering on our long-term financial targets and providing attractive returns to our shareholders.”

Pearson continued: “We are grateful to AXA for the nearly three decades we were part of the AXA Group. Now, inspired by our heritage, and driven by our enduring mission to provide financial security for the millions of individuals we serve, we turn to the future with strength and momentum to create sustained value for all of our stakeholders.”

J.P. Morgan, Morgan Stanley and Citigroup acted as joint lead book-running managers and underwriters for the offering. Barclays, BNP PARIBAS, Credit Agricole CIB, Deutsche Bank Securities, Goldman Sachs & Co. LLC, HSBC, Natixis, SOCIETE GENERALE, Credit Suisse, ING and UniCredit Capital Markets acted as joint book-running managers and underwriters for the offering.

The registration statement relating to the proposed offering has been filed with, and declared effective by, the U.S. Securities and Exchange Commission. Copies of the prospectus relating to the offering may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, New York 11717 or telephone: 866-803-9204; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; and Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or telephone: 800-831-9146.

ABOUT AXA EQUITABLE HOLDINGS

AXA Equitable Holdings, Inc. (EQH) is one of the leading financial services companies in the U.S. and is comprised of two complementary and well-established principal franchises, AXA Equitable Life Insurance Company and AllianceBernstein. We have been helping clients prepare for their financial future since 1859 and have a combined total of approximately 12,500 employees and financial professionals, 5.3 million customer relationships and $619 billion of assets under management (as of 12/31/2018).

1 Out of 521,051,204 total shares of common stock outstanding as of March 7, 2019.

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