Jackson Financial prices $550M depositary shares offering to repay $600M senior notes

Jackson Financial Inc.

Priced 22,000,000 depositary shares at $25 each for gross proceeds of $550 million.
Underwriters have a 30-day option to purchase up to 2,000,000 additional shares.
Net proceeds plus cash on hand will repay $600M of senior notes maturing Nov 2023.
Depositary shares to list on NYSE under symbol 'JXN PR A'; closing expected March 13, 2023.
Joint book-running managers: Wells Fargo, BofA, J.P. Morgan, Morgan Stanley.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Jackson Financial Inc. entered into Underwriting Agreement with Wells Fargo Securities, LLC, BofA Securities, Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC valued at 22,000,000 Depositary Shares (effective 2023-03-06).

Action: entry
Agreement: underwriting
Counterparty: Wells Fargo Securities, LLC, BofA Securities, Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC
Value: 22,000,000 Depositary Shares
Effective: 2023-03-06

Exact text from the filing

On March 6, 2023, Jackson Financial Inc. (the “Company”) entered into an underwriting agreement with Wells Fargo Securities, LLC, BofA Securities, Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC, as representatives of the underwriters named therein, providing for the issuance, subject to the satisfaction of certain conditions, of 22,000,000 Depositary Shares

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Jackson Financial Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-029612

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