Nothing Left To Lose At Ambac

But once again, let's give Ambac the benefit of the doubt. Let's assume that Ambac can raise $1.9 billion.

At Thursday's close Ambac had a market cap of $1 billion and a closing price of $3.76. To raise $2 billion at these prices would cause a massive shareholder dilution making each share worth about 1/3 what it is worth today. That would make each share worth about $1.25. There are delisting rules at those prices.