Recent 8-K filings for OSG
Highest-materiality recent filing
Ambac to sell AAC to Oaktree for $420M cash; acquire 60% of Beat Capital for ~£222M
- Sells Ambac Assurance (AAC) to Oaktree for $420M cash; Oaktree gets warrant for 9.9% of AMBC shares at $18.50.
- Acquires ~60% of Beat Capital Partners for £221.6M plus £22.5K/day from Dec 31, 2023 to close; up to $40M paid in stock.
-
Octave Specialty Group annual meeting results: all proposals pass, directors elected
Seven directors elected with majority support; ~7.5M broker non-votes per nominee.
-
Total P&C premium production up 66% to $531M; Insurance Distribution revenue grew 92% to $79M, with organic growth of 42%.
-
Octave Specialty Group adds $40M term loan to fund minority shareholder put rights
Additional term loan of $40M under First Amendment to Credit Agreement.
-
Octave Specialty Q4 2025: Net loss from continuing ops $29.98M, adjusted EBITDA improves to $1.35M
Revenue $66.9M (+3% YoY); net loss from continuing ops to shareholders $29.98M (diluted EPS -$0.84) vs loss $22.16M (EPS -$0.56) last Q4.
-
Octave files ArmadaCorp financials: nine-month revenue $33.4M, net income $16.2M
ArmadaCorp nine-month 2025 revenue $33.4M (up from $32.0M YoY); net income $16.2M vs $15.7M.
-
Octave Specialty replaces KPMG with EY as independent auditor for FY2026
KPMG dismissed as auditor after serving since 1985; no disagreements or reportable events.
-
Ambac Q3 net loss $112.6M; Insurance Distribution revenue up 80%, Everspan premiums down
Net loss attributable to shareholders of $112.6M ($2.35 per diluted share) vs $27.5M loss last year.
-
Ambac rebrands to Octave Specialty Group, new ticker OSG starting Nov 20
Name changed to Octave Specialty Group, Inc. effective Nov 10, 2025; AMBC ticker to OSG on Nov 20.
-
Ambac completes $250M acquisition of ArmadaCare from SiriusPoint; debt financing in place
Total consideration ~$250M; funded via $100M term loan, $20M revolver draw, and cash on hand.
-
Ambac accelerates PSU vesting for CEO, CFO, COO after Assurance sale; 2023 awards at 121.5%
PSU acceleration effective Sept 30, 2025, after Sept 29 closing of Ambac Assurance sale.
-
Ambac completes $420M sale of legacy financial guarantee businesses to Oaktree
Sale of Ambac Assurance Corp and Ambac Assurance UK to Oaktree for $420M cash closed on September 29, 2025.
-
Ambac to acquire ArmadaCare from SiriusPoint for $250M, expects Q4 2025 close
Purchase price $250M; financed with $100M term loan and $20M revolver from Truist.
-
CEO Claude LeBlanc receives $900,000 base salary, $2.1M RSU, and performance stock options for 500,000 shares with price hurdles from $18 to $30.
-
Ambac Q2 total revenue up 8% to $55M; net loss widens to $72.7M as legacy sale nears approval
Total P&C premium production surged 110% to $346M, boosted by Beat acquisition.
-
Ambac extends AAC sale to Oaktree to Dec 31, 2025; warrant conversion terms amended
Sale of Ambac Assurance (AAC) and Ambac UK to Oaktree extended to Dec 31, 2025; deal price remains $420M cash.
-
Ambac Financial extends credit facility maturity to Dec 31, 2025 with $10M repayment Oct 31
Maturity extended from July 31, 2025 to earlier of Dec 31, 2025 or 3 months after termination of American Acorn SPA.
-
Ambac shareholders elect 7 directors, approve say-on-pay, and ratify KPMG
78% of shares (36.2M of 46.4M outstanding) represented at May 28 annual meeting.
-
Ambac Q1 revenue up 27% to $63M but net loss widens; adjusted EBITDA negative
Total P&C premium production up 70% to $318M; revenue from continuing ops $63M (+27% YoY).
-
Ambac Q4 net loss $548M on $570M legacy sale charge; P&C premiums up 88%
Continuing ops net loss $22M ($0.70 diluted); adjusted EBITDA $5.1M vs -$3.5M prior year.
-
Ambac reports Q3 net loss of $28M ($0.63/diluted); board approves $50M buyback acceleration
Net loss of $28M ($0.63 diluted share); adjusted net loss of $19M ($0.46).
-
Ambac shareholders approve sale of Ambac Assurance Corp to Oaktree Capital
Sale of all Ambac Assurance Corp shares to Oaktree-backed buyer approved with ~36.1M for, 1.9M against.
-
Beat Capital H1 2024 results: turnover up, profit down; pro forma financials filed
Beat Capital H1 2024 turnover £26.4M, up 5.6% from £25.0M in H1 2023.
-
Ambac files 8-K for KBW conference presentation; no specific financial data disclosed
Management presented at KBW Insurance Conference on Sept 4-5, 2024; slides posted on IR website.
-
Ambac holds Q2 2024 earnings call on Aug 6; no financial figures in filing text
Furnished transcript of August 6, 2024 earnings call as Exhibit 99.1 under Item 7.01.
-
Net loss under $1M ($0.02 diluted); adjusted net income $8M ($0.18 diluted) for Q2 2024.
-
Ambac posts Q2 2024 investor presentation; quarterly highlights included
Presentation posted on IR website and furnished as Exhibit 99.1 on August 5, 2024.
-
Ambac closes acquisition of 60% of Beat Capital for $277.9M
Total consideration ~$277.9M: $248.6M cash plus 2,216,023 shares of AMBC common stock.
-
Ambac completes $278M acquisition of 60% stake in Beat Capital Partners; P&C platform doubles
Total consideration of ~$277.9M: $248.6M cash plus 2,216,023 shares of AMBC common stock.
-
Ambac files 8-K with investor presentation at BMO conference; no material financial data disclosed
Presentation delivered at BMO Capital Markets Insurance Conference on June 13, 2024, and posted on Ambac's website.
-
Elected all seven board nominees (Haft, Iglesias, Lamm-Tennant, LeBlanc, Matus, Price, Stein) with majority support.
-
Ambac agrees to sell Ambac Assurance to American Acorn for $420M; shareholder vote required
Purchase price of $420M plus adjustment amount for 100% of Ambac Assurance Corporation shares.
-
Ambac to sell AAC to Oaktree for $420M cash; acquire 60% of Beat Capital for ~£222M
Sells Ambac Assurance (AAC) to Oaktree for $420M cash; Oaktree gets warrant for 9.9% of AMBC shares at $18.50.
-
Ambac holds strategic update call on two pending M&A transactions; no deal terms disclosed
Call on June 5, 2024 discussed AAC Transaction and Beat Transaction; proxy statement to be filed.
-
Ambac Q1 net income $20M, adjusted EPS $0.82; P&C premium production up 45% YoY
Net income of $20M ($0.43/diluted share); adjusted net income $38M ($0.82/share).
-
Ambac enters new regulatory stipulation with Wisconsin OCI, replacing 2018 order
New Stipulation and Order effective Feb 22, 2024, supersedes 2018 order (Case 17-C42069).
-
Ambac Q4 net loss $16M, adjusted income $10M; P&C premiums up 76%
Q4 net loss attributable to common stockholders $15.7M ($0.24 diluted EPS); adjusted net income $10.2M ($0.32 diluted EPS).
Earnings & guidance
Materiality & sentiment trend
Max materiality 0.90 · Median 0.62 · Most common event earnings