SC 13G: AMBAC FINANCIAL GROUP INC

AI Summary

SC 13G filing by AMBAC FINANCIAL GROUP INC.

Risk Assessment

Risk Level: low

FAQ

Key Financial Figures

• $0.01 — me of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti

Filing Documents

• d824246dsc13g.htm (SC 13G) — 39KB
• 0001193125-24-087961.txt ( ) — 40KB

From the Filing

SC 13G 1 d824246dsc13g.htm SC 13G SC 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 (Amendment No.)* AMBAC FINANCIAL GROUP, INC. (Name of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securities) 023139884 (CUSIP Number) April 2, 2024 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: Rule 13d-1(b) Rule 13d-1(c) Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 ( Act ) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 023139884 1 NAME OF REPORTING PERSON Theodore Walker Cheng-De King 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a)(b) 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION Malta NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5 SOLE VOTING POWER 3,017,400* 6 SHARED VOTING POWER 0 7 SOLE DISPOSITIVE POWER 3,017,400* 8 SHARED DISPOSITIVE POWER 0 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,017,400 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions) 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 6.26% (1) 12 TYPE OF REPORTING PERSON (see instructions) IN * See Item 4(a) below. (1) Calculated based on (i) 45,195,370 shares of Common Stock, par value $0.01 per share ( Common Stock ), of Ambac Financial Group, Inc. (the Issuer ) outstanding as of February 26, 2024, as reported on the Issuers Form 10-K filed by the Issuer with the U.S. Securities and Exchange Commission ( SEC ) on February 27, 2024; plus (ii) pursuant to Rule 13d-3(d)(1)(i), 3,017,400 shares of Common Stock that may become issuable upon the exercise of stock options held by the Reporting Person that are currently exercisable or exercisable within 60 days of April 2, 2024. Item1. (a) Name of Issuer: Ambac Financial Group, Inc. (b) Address of Issuers Principal Executive Offices: One World Trade Center, New York, New York 10007. Item2. (a) Name of Person(s) Filing: Theodore Walker Cheng-De King (the Reporting Person ). (b) Address of Principal Business Office or, if none, Residence: 46/F, Lee Garden One, 33 Hysan Avenue, Causeway Bay, Hong Kong. (c) Citizenship: The Reporting Person is a citizen of Malta. (d) Title of Class of Securities: Common Stock, par value $0.01 per share. (e) CUSIP No.: 023139884. Item3. If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o); (b) Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c); (c) Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c); (d) Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); (e) An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J); (k) Group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J), please specify the type of institution: _________________. Not Applicable. Item4. Ownership. (a) Amount Beneficially Owned: 3,017,400 shares of Common Stock, which consists entirely of shares issuable pursuant to options to purchase 3,017,400 shares of Common Stock that are currently exercisable or exercisable within 60 days of April 2, 2024. (b) Percent of Class: 6.26%. The percentage used herein and in the remainder of this Schedule 13G is calculated based on (i) 45,195,370 shares of Common Stock of the Issuer outstanding as of February 26, 2024, as reported on the Issuers Form 10-K filed by the Issuer with the SEC on February 27, 2024; plus (ii) pursuant to Rule 13d-3(d)(1)(i), 3,017,400 shar

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