AMBAC Financial Group Files Proxy Materials

TL;DR

AMBC filed proxy docs, shareholder vote incoming.

AI Summary

AMBAC Financial Group, Inc. (AMBC) has filed a Definitive Additional Materials proxy statement (DEFA14A) on September 18, 2024. This filing concerns the company's proxy materials, indicating a shareholder meeting or vote is approaching. The filing does not contain specific financial figures or transaction details but serves as a notification and supplement to prior proxy statements.

Why It Matters

This filing signals that AMBAC Financial Group is proceeding with corporate actions requiring shareholder approval or input, which could impact the company's future direction and shareholder rights.

Risk Assessment

Risk Level: low — The filing is a standard procedural document for a public company and does not contain information that inherently increases risk.

Key Players & Entities

• AMBAC FINANCIAL GROUP INC (company) — Registrant
• AMBAC INC /DE/ (company) — Former Company Name

FAQ

Filing Documents

• a05-014x12024ambcproxysupp.htm (DEFA14A) — 36KB
• image_0a.jpg (GRAPHIC) — 38KB
• imagea.jpg (GRAPHIC) — 93KB
• 0000874501-24-000214.txt ( ) — 219KB

From the Filing

Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A INFORMATION PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. ____) Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement x Definitive Additional Materials Soliciting Material Pursuant to 240.14a-12 AMBAC FINANCIAL GROUP, INC. (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if Other Than the Registrant) PAYMENT OF FILING FEE (CHECK THE APPROPRIATE BOX) x No fee required. Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. (1) Title of each class of securities to which the transaction applies (2) Aggregate number of securities to which the transaction applies (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined) (4) Proposed maximum aggregate value of transaction (5) Total fee paid Fee paid previously with preliminary materials. Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. (1) Amount previously paid (2) Form, Schedule or Registration Statement No. (3) Filing Party (4) Date Filed Explanatory Note On September 18, 2024, Ambac Financial Group, Inc. issued the attached letter to stockholders as additional soliciting material. YOUR VOTE IS IMPORTANT PLEASE VOTE YOUR PROXY TODAY September 17, 2024 Dear Stockholder We recently mailed you proxy materials in connection with the special meeting of stockholders of Ambac Financial Group, Inc. (" Ambac ") to be held virtually on October 16, 2024, at 1100 a.m., Eastern Time. Your voting participation is requested for this important meeting. Please vote your proxy today. Internet and telephone voting are available by following the instructions on the proxy card or voting form you received. As set forth in the proxy statement, dated September 6, 2024 (the " Proxy Statement ") previously sent to you, at the Ambac special meeting, Ambac stockholders are being asked to consider and vote upon proposals to (1) approve the stock purchase agreement, dated June 4, 2024, by and among Ambac and American Acorn Corporation (" Buyer "), a Delaware corporation owned by funds managed by Oaktree Capital Management, L.P. (as it may be amended from time to time in accordance with its terms, the " Purchase Agreement "), providing for the sale by Ambac to Buyer of all of the issued and outstanding shares of common stock of Ambac Assurance Corporation, a Wisconsin stock insurance company and wholly-owned subsidiary of Ambac (the " Sale "), as fully described in the Proxy Statement (the " Sale Proposal "), (2) to approve, on an advisory (non-binding) basis, the compensation that may, under certain circumstances, be paid or provided by Ambac to its named executive officers in connection with the Sale and other transactions contemplated by the Purchase Agreement (the " Compensation Proposal ") and (3) to adjourn the special meeting, if necessary or appropriate, in order to solicit additional proxies if there are insufficient votes at the time of the special meeting to approve the Sale Proposal (the " Adjournment Proposal "). After careful consideration, the Ambac Board of Directors unanimously recommends that you vote "FOR" each of the Sale Proposal, the Compensation Proposal, and the Adjournment Proposal. The approval of the Sale Proposal requires the affirmative vote of the holders of a majority of the outstanding shares of Ambac common stock entitled to vote thereon (the " Required Stockholder Approva l"). The closing of the Sale is conditioned upon Ambac obtaining the Required Stockholder Approval at the special meeting. Accordingly, every vote - no matter how large or small - is important. Please vote your shares today. Please take advantage of Internet or telephone voting as the most prompt means to record your vote and avoid further solicitation costs. 1 If you have questions or need assistance voting your shares, please contact D.F. King Co., Inc., which is assisting us, toll free at (800) 848-3416 or via email at AMBCdfking.com. On behalf of the Ambac Board of Directors, thank you for your cooperation and continued support. Sincerely, Claude LeBlanc President and Chief Executive Officer YOUR VOTE IS IMPORTANT THREE EASY WAYS TO VOTE 1. Vote by Internet . Please access the website listed on the proxy card or voting form sent to you. Have voting card in hand. Follow the

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View this DEFA14A filing on SEC EDGAR