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Warrants
Alert
Books
THE INVESTOR'S GUIDE TO WARRANTS:
Capitalize on the Fastest Growing Sector of the
Stock Market, Second Edition (Hardcover)
by Andrew McHattie Rating: ISBN-10: 027303751X
Name -
Ambac Financial Group Inc
Rebranded Name (2025): Octave Specialty Group, Inc.
Address: 1 World Trade Center, 41st Floor, New York, NY 10007
Phone Number: (212) 658-7470
Investor Relations Contact: ir@octavespecialty.com
Website - https://www.ambac.com
Warrant Symbol: AMBC.WS
Warrants Listed: 5,055,414
Ratio - 1-for-1
Cusip Number - 023139 11 6
Expiry Date - April 30, 2023
Exercise Price - $16.67
Synopsis & Listing Information
These warrants were originally issued on May 1, 2013, as part of Ambac’s reorganization plan when it emerged from Chapter 11 bankruptcy.
10-Year Term: The warrants were designed with a long-term 10-year window to allow the company to rebuild its specialty insurance business.
Stock Price at Expiration: On the final day of trading (April 28, 2023), the common stock (AMBC) closed at approximately $14.80. Since the exercise price was $16.67, the warrants were "out of the money."
Outcome: Because the stock price was below the strike price at the deadline, the warrants expired worthless and were formally retired and delisted from the New York Stock Exchange.
2025/2026 New Warrants: Please note that in September 2025, as part of the sale of its legacy subsidiary (Ambac Assurance), the company issued a new, private warrant for 5,092,707 shares to an investor group (Acorn/Oaktree). These are private institutional warrants and do not trade under the AMBC.WS symbol.
Current Status: Inactive / Expired.
Rebranded Name (2025): Octave Specialty Group, Inc.
Address: 1 World Trade Center, 41st Floor, New York, NY 10007
Phone Number: (212) 658-7470
Investor Relations Contact: ir@octavespecialty.com
Website - https://www.ambac.com
Warrant Symbol: AMBC.WS
Warrants Listed: 5,055,414
Ratio - 1-for-1
Cusip Number - 023139 11 6
Expiry Date - April 30, 2023
Exercise Price - $16.67
Synopsis & Listing Information
These warrants were originally issued on May 1, 2013, as part of Ambac’s reorganization plan when it emerged from Chapter 11 bankruptcy.
10-Year Term: The warrants were designed with a long-term 10-year window to allow the company to rebuild its specialty insurance business.
Stock Price at Expiration: On the final day of trading (April 28, 2023), the common stock (AMBC) closed at approximately $14.80. Since the exercise price was $16.67, the warrants were "out of the money."
Outcome: Because the stock price was below the strike price at the deadline, the warrants expired worthless and were formally retired and delisted from the New York Stock Exchange.
2025/2026 New Warrants: Please note that in September 2025, as part of the sale of its legacy subsidiary (Ambac Assurance), the company issued a new, private warrant for 5,092,707 shares to an investor group (Acorn/Oaktree). These are private institutional warrants and do not trade under the AMBC.WS symbol.
Current Status: Inactive / Expired.
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Warrant Terms
- Expiration Date: The last day the warrants can be exercised. If warrants aren't going to be exercised then they must be sold the day before the expiry date. The longer the time to expiry the more valuable the warrants.
- Leverage: A measure of how much you can increase your exposure to a share if you bought warrants instead of making a direct investment. It is the current share price divided by the current price of the warrant.
- Intrinsic Value: The difference between the exercise price and the actual trading price of the common stock. Once the common has gone over the exercise price, the warrants are "In the Money."
- Volatility: The higher the volatility rating, the higher the price of the warrant. Historical volatility is calculated by using the standard deviation of an underlying stock price over a specific period.
- Time Value: The difference between the current warrant price and its intrinsic value. Interpreted as the consideration paid for the advantage the warrant buyer has over the direct investor.
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