---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-155881"
form_type: "8-K"
ticker: "OSG"
cik: "0000874501"
company_name: "OCTAVE SPECIALTY GROUP INC"
filed_at: "2025-07-07T23:59:59+00:00"
generated_at: "2026-05-18T09:24:01.305095+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Ambac extends AAC sale to Oaktree to Dec 31, 2025; warrant conversion terms amended

## Summary
- Sale of Ambac Assurance (AAC) and Ambac UK to Oaktree extended to Dec 31, 2025; deal price remains $420M cash.
- Warrant conversion amended: Oaktree may convert up to one-third of the warrant at a time, aggregate cap $70M.
- Oaktree waives right to designate a board director under the Investor Rights Agreement.
- Parties to cooperate on office leases and Oaktree waives certain pre-closing company payment adjustments.
- Closing still subject to Wisconsin OCI regulatory approval; both parties state full commitment to completion.

## SEC filing metadata
- accession: 0001193125-25-155881
- form_type: 8-K
- ticker: OSG
- cik: 0000874501
- company_name: OCTAVE SPECIALTY GROUP INC
- filed_at: 2025-07-07T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/874501/000119312525155881/0001193125-25-155881-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/874501/000119312525155881/d933600d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-155881
- JSON: https://secwatch.observer/filing/0001193125-25-155881.json
- Plain text: https://secwatch.observer/filing/0001193125-25-155881.txt

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