Company: OXBRW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000736
Chunk: 27

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: 10-K
Item: Item 12
Chunk 27
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 an additional 80% of any proceeds in excess of the amount necessary to pay the preferred
return. Assuming no casualty losses to properties reinsured by Oxbridge Re’s reinsurance subsidiaries, DeltaCat Re token investors
are expected to receive an annual return on the original purchase price of 42%.

On
June 27, 2023, SurancePlus Inc. completed its private placement (the “Private Placement”) of Series DeltaCat Re Preferred
Shares represented by DeltaCat Re Tokens (the “Securities”). On June 27, 2023, SurancePlus entered into subscription agreements
with accredited investors and non-U.S. persons in the Private Placement with respect to 229,766 of the Securities at a purchase price
of $10.00 per token for aggregate gross proceeds of $2,297,660. SurancePlus also previously entered into subscription agreements for
and sold 15,010 of the Securities between April 5, 2023 and May 18, 2023 for gross proceeds of $150,100, also at a purchase price of
$10.00 per token. The aggregate amount raised in the Private Placement was $2,447,760 for the issuance of 244,776 Securities of which
approximately $1,280,000 was received from third-party investors and approximately $1,167,000 from Oxbridge Re Holdings Limited. Approximately
$300,000 and $274,000 of ITOM fees were deducted from the gross proceeds from the third-party investors and Oxbridge Re Holdings Limited,
respectively., The tokens were issued on the Avalanche blockchain. Ownership of DeltaCat Re tokenized reinsurance securities indirectly
conferred fractionalized interests in reinsurance contracts underwritten by Oxbridge Re’s reinsurance subsidiary, Oxbridge Re NS,
for the 2023-2024 treaty year.

On
June 28, 2023, Oxbridge issued a press release announcing the completion of the Private Placement.

On
March 18, 2024, the Company and its indirect 80% owned subsidiary SurancePlus Inc , announced the commencement of an offering by SurancePlus
of Participation Shares (the “Securities”) represented by digital tokens to be issued under a 3-year Participation Share
Investment Contract (the “PSIC”). The Participation Shares are not shares in SurancePlus and shall have no preemptive right
or conversion rights. The Participation Shares solely conferred contractual rights against SurancePlus as contained in the PSIC. At the