Ambac to acquire ArmadaCare from SiriusPoint for $250M, expects Q4 2025 close

OCTAVE SPECIALTY GROUP INC

Purchase price $250M; financed with $100M term loan and $20M revolver from Truist.
Transaction expected to close Q4 2025, subject to customary regulatory approvals.
Deal expected to be accretive to Ambac shareholders in 2026.
ArmadaCare CEO Ed Walker to continue leading the business; new 5-year capacity agreement with SiriusPoint.
Investor call on Sept 30 at 8:30am ET to discuss strategic update.

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