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Ambac Swaps $11.8 Mln In Debt For Equity
SAN FRANCISCO — Ambac Financial Group Inc. said late Wednesday it exchanged $11.8 million in debt for equity. As a part of the deal, Ambac issued 8.6 million common shares, bringing its total outstanding shares to 302 million. Since early June, Ambac has issued 13.64 million shares in exchange for $20.3 million in debt.
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