BRIEF-Ambac Financial To Sell Legacy Financial Guarantee Business To Funds Managed By Oaktree Capital-March 2024-www.financetom.com

BRIEF-Ambac Financial To Sell Legacy Financial Guarantee Business To Funds Managed By Oaktree Capital

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BRIEF-Ambac Financial To Sell Legacy Financial Guarantee Business To Funds Managed By Oaktree Capital

Jun 5, 2024 5:49 AM

June 5 (Reuters) - Ambac Financial Group Inc ( AMBC ):

* AMBAC FINANCIAL GROUP, INC. ( AMBC ) TO SELL LEGACY FINANCIAL

GUARANTEE

BUSINESS TO FUNDS MANAGED BY OAKTREE CAPITAL MANAGEMENT, L.P.

* AMBAC FINANCIAL GROUP INC ( AMBC ): SALE FOR $420 MILLION IN CASH

* AMBAC FINANCIAL GROUP INC ( AMBC ): OAKTREE WILL RECEIVE WARRANTS

ACQUIRE UP TO 9.9% OF AMBAC COMMON STOCK AT A STRIKE PRICE OF

$18.50.

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