F&G issues $250M 6.875% mandatory convertible preferred to parent FNF for growth capital

F&G Annuities & Life, Inc.

Issued 5M shares of 6.875% Series A Mandatory Convertible Preferred Stock to FNF for $250M cash.
Mandatory conversion on Jan 15, 2027 into 0.9456 to 1.1111 shares of common per preferred share.
Dividends cumulative at 6.875% on $50 liquidation preference, payable quarterly starting April 15, 2024.
Transaction approved by Special Committee of independent directors with Barclays as financial advisor.
Proceeds will support growth of insurance subsidiaries.

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