Daily Briefing: Ambac Raises $1.5 bln

[Joelle]

Daily Briefing: Ambac Raises $1.5 bln
      

Bond insurer Ambac Financial Group Inc said it sold $1.25 billion of common shares at $6.75 a share, or 9 percent below their closing price on Thursday, yanking the stock down to near that level in premarket trade on Friday. The rest of the funds were raised in issuance of mandatory convertibles. Ambac shares outstanding [...]
         

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