A spectrogram (range 330-980 nm), obtained on Jan. 31.50 UT by E. Ofek (CIT) with the Palomar 5-m telescope (+ Double Beam Spectrograph), and another one obtained on Feb. 8.12 by J. S. Bloom, R. J. Foley, M. Modjaz, and A. A. Miller (UCB) with the 10-m Keck I telescope (+ LRIS), confirm the behavior described above; these spectra also exhibit narrow He I emission lines and weak, narrow absorption features corresponding to the Mg II 279.6- and 280.4-nm doublet. The He I lines are further confirmation that the object is a supernova and not an active galactic nucleus. The Mg II absorption sets the minimum redshift for the supernova at z = 0.234. The narrow [O II] 372.7-nm emission is more extended along the slit in the two-dimensional spectrogram (i.e., the extension is seen in the direction along the slit orthogonal to the dispersion) than is the supernova continuum, and it is offset as well; this indicates that 2008am is offset from its host galaxy and that the host light may contribute to the narrow emission features. Note that the redshift derived above implies a peak absolute magnitude of -22.1, which is comparable to that of 2006gy (cf. CBETs 644, 647, 648, 695), the second brightest supernova observed and a possible ``pair-instability’’ supernova (Ofek et al. 2007, Ap.J. 659, 13; Smith et al. 2007, Ap.J. 666, 1116).