AMBAC FINANCIAL GROUP INC : Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing (form 8-K)
January 23, 2020 at 04:12 pm EST
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Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On January 22, 2020, Ambac Financial Group, Inc. (the "Company"), acting
pursuant to authorization from its Board of Directors, determined to voluntarily
withdraw the principal listing of the Company's common stock, par value $0.01
per share (the "Common Stock") and warrants, from The Nasdaq Global Select
Market ("Nasdaq") and to transfer the listing to the New York Stock Exchange
("NYSE"). The Company expects that listing and trading of the Common Stock and
warrants on Nasdaq will end at market close on January 31, 2020, and that
trading will begin on NYSE at market open on February 3, 2020.
The Common Stock and warrants have been approved for listing on NYSE, where they
will continue to trade under the ticker symbol "AMBC" and "AMBC WS".
Item 7.01 Regulation FD Disclosure
The Company issued the press release attached hereto as Exhibit 99.1 in
connection with the transfer of the principal listing of the Common Stock to
NYSE.
The information in Item 7.01 and Item 9.01 of this Current Report on Form 8-K is
being furnished and shall not be deemed "filed" for purposes of Section 18 of
the Securities Exchange Act of 1934 or otherwise subject to the liabilities of
that section, nor shall it be deemed incorporated by reference in any filing
under the Securities Act of 1933, regardless of any general incorporation
language in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit
Number Exhibit Description
99.1 Press Release issued by Ambac Financial Group, Inc. dated January 22, 2020
Ambac Financial Group, Inc. is a financial services holding company. It operates three principal businesses: Legacy Financial Guarantee (LFG) Insurance, Specialty Property and Casualty Insurance, and Insurance Distribution. The LFG Insurance includes the activities of Ambac Assurance Corporation (AAC) and its wholly owned subsidiaries, including Ambac Assurance UK Limited (Ambac UK) and Ambac Financial Services LLC (AFS). The Specialty Property and Casualty Insurance includes five admitted carriers and an excess and surplus lines (E&S or no admitted) insurer, Everspan Indemnity Insurance Company (all carriers collectively, Everspan). The Insurance Distribution includes the specialty property and casualty (P&C) insurance distribution business, which includes managing general agents and underwriters (collectively MGA/Us), insurance wholesalers, brokers, and other distribution businesses, which includes Xchange Benefits, LLC, a P&C MGA specializing in accident and health products.