---
schema_version: "secwatch.filing_event.v1"
accession: "0000874501-24-000171"
form_type: "8-K"
ticker: "OSG"
cik: "0000874501"
company_name: "OCTAVE SPECIALTY GROUP INC"
filed_at: "2024-08-05T23:59:59+00:00"
generated_at: "2026-05-31T13:19:22.478021+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Ambac reports Q2 adjusted EPS $0.18; closes $278M Beat Capital acquisition, agrees to sell legacy business for $420M

## Summary
- Net loss under $1M ($0.02 diluted); adjusted net income $8M ($0.18 diluted) for Q2 2024.
- Closed acquisition of 60% stake in Beat Capital Partners for $278M, effective July 31, 2024.
- Agreed to sell Legacy Financial Guarantee Business to Oaktree for $420M, pending regulatory and shareholder approvals.
- Everspan GPW $111M (+109% YoY); total P&C premium production $165M (+75%) driven by new programs.
- To initiate $50M share repurchase program after sale of Legacy Financial Guarantee Business.

## SEC filing metadata
- accession: 0000874501-24-000171
- form_type: 8-K
- ticker: OSG
- cik: 0000874501
- company_name: OCTAVE SPECIALTY GROUP INC
- filed_at: 2024-08-05T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/874501/000087450124000171/0000874501-24-000171-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/874501/000087450124000171/ambc-20240805.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000874501-24-000171
- JSON: https://secwatch.observer/filing/0000874501-24-000171.json
- Plain text: https://secwatch.observer/filing/0000874501-24-000171.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.