Ambac Financial Group Inc ABK:NYSE
Ambac Announces Debt for Equity Exchange Transactions
BusinessWire
5:59 PM ET
Ambac Financial Group, Inc. (NYSE: ABK) (Ambac) announced today that it has entered into a series of debt for equity exchanges with certain holders of Ambac's 9a...oe% debentures, due August 2011. Under the terms of the exchange agreements, the Company issued, or will issue, 5,036,068 shares of Ambac's common stock in exchange for $8.5 million in aggregate principal amount of debt to the bondholders. Following the issuance of the shares there will be 293,420,336 common shares outstanding.