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AMBCW - Ambac Financial Group, Inc.
Ambac Financial Group, Inc. (AMBC) is a holding company based in New York City that provides financial guarantees and other financial services to clients in the public and private sectors. However, the ticker symbol AMBCW refers to warrants issued by the company.
AMBC's primary subsidiary is Ambac Assurance Corporation, a financial guarantee insurance company that specializes in providing insurance and financial services to public finance and structured finance markets. The company was originally formed in 1971 as a municipal bond insurer but later expanded into other areas of financial services.
Following the 2008 financial crisis, Ambac faced significant financial challenges due to its exposure to subprime mortgage securities. In 2010, the company filed for bankruptcy and emerged from bankruptcy in 2013 after a debt-for-equity swap with its creditors.
The warrants issued by the company, which are traded under the ticker symbol AMBCW, give the holder the right to purchase shares of AMBC common stock at a predetermined price and are set to expire on April 30, 2023.
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