1 unchanged sentence
No other matters require disclosure.
+Added: On November 12, 2024, Ambac’s Board of Directors authorized a share repurchase program, under which Ambac may opportunistically repurchase up to $50 million of the Company’s common shares at management’s discretion over the period ending on December 31, 2026.
+Added: The Company previously announced that it would initiate a share repurchase program in the first three months following the closing of the sale of Ambac Assurance Corporation.
+Added: The Board of Directors has now authorized an earlier commencement of the program based on market conditions and other factors.
+Added: The Company intends to repurchase no more than $15 million of the Company’s common shares prior to the completion of the sale of Ambac Assurance Corporation, due to contractual restrictions in the Company's credit agreement entered into in connection with the financing of the Beat acquisition.
+Added: Under the share repurchase program, shares may be repurchased from time to time in the open market or through negotiated transactions at prevailing market rates, or by other means in accordance with federal securities laws.
+Added: There is no guarantee as to the exact number or value of shares that will be repurchased by the Company, and the Company may discontinue repurchases at any time that management determines additional repurchases are not warranted.
+Added: The timing and amount of share repurchases under the share repurchase program will depend on several factors, including the Company's stock price performance, ongoing capital planning considerations, general market conditions, the likelihood of repurchases causing one or more stockholders to hold 5% or more of the Company’s common stock, and applicable legal requirements.
+Added: Ambac Financial Group, Inc.
+Added: Third Quarter 2024 Form 10-Q
Number Description
Other exhibits, filed or furnished, as indicated:
−Removed: 3.1+ Amended and Restated Certificate of Incorporation of Ambac Financial Group, Inc.
+Added: 2.1 Stock Purchase Agreement, by and between Ambac Financial Group, Inc.
+Added: and American Acorn Corporation, dated as of June 4, 2024 (incorporated by reference to Exhibit 2.2 to the Current Report on Form 8-K of Ambac Financial Group, Inc.
+Added: filed on June 5, 2024).
+Added: 10.1 Shareholders’ Agreement by and among Ambac Financial Group, Inc., Cirrata V LLC, Beat Capital Partners Limited and the sellers set forth therein, dated as of August 1, 2024 (incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K of Ambac Financial Group, Inc.
+Added: filed on August 2, 2024).
+Added: 10.2 Credit Agreement, by and between Ambac Financial Group, Cirrata V LLC, Cirrata Group, LLC, Cirrata V UK Ltd and UBS AG, dated as of August 1, 2024 (incorporated by reference to Exhibit 10.2 to the Current Report on Form 8-K of Ambac Financial Group, Inc.
+Added: filed on August 2, 2024).
31.1+ Certification of Chief Executive Officer Pursuant to Rules 13a-14(a) and 15d-14(a) Promulgated under the Securities Exchange Act of 1934, as amended.
11 unchanged sentences
++ Furnished herewith.
−Removed: Ambac Financial Group, Inc.
−Removed: Second Quarter 2024 Form 10-Q
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
AMBAC FINANCIAL GROUP, INC.
−Removed: August 5, 2024 By:
+Added: November 12, 2024 By:
/s/ DAVID TRICK
3 unchanged sentences
Ambac Financial Group, Inc.
−Removed: Second Quarter 2024 Form 10-Q
+Added: Third Quarter 2024 Form 10-Q
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.