Ambac shareholders approve sale of Ambac Assurance Corp to Oaktree Capital

OCTAVE SPECIALTY GROUP INC

Sale of all Ambac Assurance Corp shares to Oaktree-backed buyer approved with ~36.1M for, 1.9M against.
Advisory vote on executive compensation tied to sale passed with ~34.0M for, 3.8M against.
Adjournment proposal also passed with ~34.6M for; over 38M shares voted (~80% of outstanding).
Purchase agreement dated June 4, 2024; sale may constitute transfer of substantially all company assets.

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