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Ambac Sold Equity

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March 07, 2008 – Comments (0)

What a shock, Ambac managed to raise $1.5 billion selling equity, but what a price, $6.75 per share is a mere 7% of the peak price of $96.10 earlier this year.  It is 9% below today's closing price and it almost tripled the number of shares.

So, with the share dilution, for the market cap to reach its former glory share only need to go up to $34, maybe less because I didn't include the $250 million convertable they sold. 

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