secwatch.observer — SEC 8-K summary
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Issuer:     OCTAVE SPECIALTY GROUP INC (OSG)
CIK:        0000874501
Form:       8-K
Filed at:   2025-07-07T23:59:59+00:00
Accession:  0001193125-25-155881
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/874501/000119312525155881/0001193125-25-155881-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/874501/000119312525155881/d933600d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-155881

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