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.
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Total P&C premium production up 66% to $531M; Insurance Distribution revenue grew 92% to $79M, with organic growth of 42%.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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).
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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.
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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).
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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.
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Net loss under $1M ($0.02 diluted); adjusted net income $8M ($0.18 diluted) for Q2 2024.
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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.
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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.
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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.
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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.
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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).
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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).
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Ambac Q3 net income $66M ($1.41 EPS); adjusted net income $94M ($2.00 EPS); P&C premium up 140%
Net income $66M, diluted EPS $1.41; adjusted net income $94M, $2.00 per share.
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Ambac Q2 net loss $13M, adjusted net income $3M; P&C production up 45% YoY
Net loss of $13M ($0.29 diluted EPS); adjusted net income $3M ($0.07 diluted EPS).
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Ambac reports Q1 net loss of $33M; specialty P&C production up 87% YoY
Net loss of $33M (-$0.73 diluted EPS); adjusted net loss of $14M (-$0.30 per share).
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Ambac Q4 net income $175M ($3.86/diluted); adjusted earnings $190M; book value up 24% to $27.85
Net income $175M ($3.86 diluted) vs loss of $22M in Q4 2021; adjusted earnings $190M ($4.18 diluted).
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Ambac settles Nomura RMBS lawsuit for $140M; to fully redeem Tier 2 Notes
Settled 2013 RMBS litigation with Nomura; Nomura pays $140M cash, mutual release of claims.
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Ambac posts Q3 net income of $340M on $319M RMBS settlement gain; book value per share up 29%
Net income of $340M ($7.41 diluted EPS); adjusted earnings of $338M ($7.37 diluted EPS).
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Ambac Assurance settles with Bank of America for $1.84B, will redeem $1.175B in notes
AAC receives $1.84B from BOA parties to dismiss RMBS lawsuits filed in NY state court.
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Ambac settles RMBS claims against Bank of America for $1.84 billion; expects gain of ~$390M
AAC settled all RMBS claims against Countrywide/Bank of America entities for $1.84 billion.
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Ambac reports Q2 net income $5M; Specialty P&C production up 168% to $65M
Net income of $5.2M ($0.11/diluted share) vs net loss of $28.5M in Q2 2021; adjusted earnings $12.7M ($0.28/diluted share).
Earnings & guidance
Materiality & sentiment trend
Max materiality 0.90 · Median 0.70 · Most common event earnings