offering of all its 4,159,505 shares of common stock of HCIA Inc. Business Editors NEW YORK--(BUSINESS WIRE)--April 30, 1996--AMBAC Inc. (NYSE:ABK) today announced the public offering of 4,159,505 shares of the common stock of its health care information content affiliate, HCIA Inc. (NASDAQ:HCIA), at a price of $51.00 per share. After completion of the offering, AMBAC will no longer own any shares of HCIA common stock. AMBAC will use its net proceeds from the offering for general corporate purposes. Merrill Lynch, Pierce, Fenner & Smith Incorporated is serving as lead manager of the offering, with Alex. Brown & Sons Incorporated, Hambrecht & Quist LLC, Lehman Brothers Inc. and Salomon Brothers Inc. acting as co-managing underwriters. AMBAC Inc., headquartered in New York City, is a holding company that provides through its affiliates financial guarantee and financial services to both public and private clients. The company's principal operating subsidiary, AMBAC Indemnity Corporation, is a leading insurer of municipal and structured finance obligations. AMBAC Indemnity has been assigned triple-A claims-paying ability ratings from Moody's Investors Service, Inc., Standard & Poor's Rating Group and Fitch Investors Service, L.P. HCIA Inc. is a leading health care information content company that develops and markets integrated clinical and financial information systems and products. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there by any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. A written prospectus relating to this offering may be obtained from Merrill Lynch & Co., World Financial Center, 250 Vesey Street, New York, New York 10281-1325.
AMBAC INC. ANNOUNCES SECONDARY PUBLIC
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