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Axa selling Axa Equitable common shares

Axa is selling another 40 million common shares of Axa Equitable Holdings Inc. through a registered public offering.

Axa granted the underwriters, Morgan Stanley and Barclays, a 30-day option to acquire up to an additional 6 million common shares. Axa Equitable will not receive any proceeds from the offering.

Based on a June 4 closing share price of $21 and assuming full exercise of the underwriters' option, S&P Global Market Intelligence calculates a gross offering size of about $966.0 million.

The underwriters suggest selling the common shares from time to time in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise.