Ambac Financial May File For Bankruptcy If Deal Not Reached (ABK)

Shares of Ambac Financial ABK are trading sharply lower pre market down nearly 55% to 40c on concerns the company will not make their Nov 1 coupon payment. Technically Ambac has missed their payment though a grace period for the payment is 30 days following the November 1st deadline. If the company fails to make the payment and fails to reach a deal in a pre packaged bankruptcy they will file chapter 11 by the end of the year. 52wk Range: 0.40 - 3.39