Ambac Financial Group Inc (AMBC)

[mlkrborn]

Ambac began trading on the NASDAQ today after emerging from bankruptcy (AMBC) 20.35 +1.74 : Co announced the effectiveness of its Second Modified Fifth Amended Plan of Reorganization, which marks the completion of its financial restructuring and Ambac's emergence from Chapter 11 bankruptcy protection.

Under the terms of the restructuring, all allowed claims of Ambac's former creditors were discharged and such creditors received new common stock, and in certain instances, new warrants, issued by the reorganized co. All common stock of the co in existence prior to Ambac's emergence from bankruptcy has been cancelled. Holders of such existing stock have not, and will not, receive distributions under the Plan.

Co traded on the OTC markets under ABKFQ since going into bankruptcy in 2010.