The co announces that it has successfully closed its $1.155 bln public offering of 171,111,111 shares of common stock, par value $0.01 per share, at $6.75 per share. Ambac also placed 14,074,074 shares of common stock in a private placement for $95 mln with two financial institutions. In addition, Ambac announced that it has also completed its $250 mln public offering of 5 million equity units, with a stated amount of $50 per unit. The equity units carry a total distribution rate of 9.5%. The threshold appreciation price of the equity units is $7.97 which represents a premium of approximately 18% over the concurrent public offering price of Ambac’s common stock of $6.75 per share.
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