OCTAVE SPECIALTY GROUP INC (OSG): M&A transaction — Ambac completes $250M acquisition of ArmadaCare from SiriusPoint; debt financing in place

OCTAVE SPECIALTY GROUP INC

Total consideration ~$250M; funded via $100M term loan, $20M revolver draw, and cash on hand.
Credit agreement with Truist Bank provides $120M senior secured facilities; borrowings bear SOFR plus 2.25%-2.75% margin.
ArmadaCare to retain brand, led by CEO Ed Walker, operate as wholly owned subsidiary of Ambac.
Ambac CEO Claude LeBlanc cites strengthened financial profile, diversified distribution platform.

item 1.01 item 2.01 item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

OCTAVE SPECIALTY GROUP INC completed an acquisition involving Sirius Acquisitions Holding Company for Total consideration as of the Closing Date was approximately $250,000,000. (closed 2025-10-31).

Action: acquisition
Counterparty: Sirius Acquisitions Holding Company
Consideration: Total consideration as of the Closing Date was approximately $250,000,000.
Closing: 2025-10-31

Exact text from the filing

Cirrata VI, Sirius Re Holdings, Inc. (“Seller Parent”) and Sirius Acquisitions Holding Company (the “Seller”). Total consideration as of the Closing Date was approximately $250,000,000. $100,000,000 was financed with the Term Loan, $20,000,000 was drawn under the Revolving Facility and the remaining purchase price was paid with cash on hand. The description of

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4 m&a transactions filed in the last 30 days. Browse all m&a transactions →

OCTAVE SPECIALTY GROUP INC filing history →

Source: SEC EDGAR

accession 0001628280-25-047943

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