Company: OXBRW
Filing Date: 2025-03-26
Form Type: DEF 14A
Source: 0001641172-25-000739
Chunk: 17

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: DEF 14A
Chunk 17
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 as otherwise provided in the Series B Warrants or by virtue of such holder’s ownership of shares of our ordinary shares, the holder of a Series B Warrant does not have the rights or privileges of a holder of shares of our ordinary shares, including any voting rights, until the holder exercises the Series B Warrant.

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Reasons for the Warrant Approval Proposal

A vote in favor of this proposal is a vote “for” approval of the issuance of the shares of our ordinary shares that may be issuable upon the exercise of the Series B Warrants. The aggregate number of shares of our ordinary shares issuable upon the exercise of such Series B Warrants, when combined with the ordinary shares and ordinary shares issuable upon exercise of the Series A Warrants issued in the Transaction, may exceed 19.99% of the outstanding shares of our ordinary shares at a price lower than the Minimum Price (as defined below).

Nasdaq Listing Rule 5635(d) requires stockholder approval in connection with a transaction other than a public offering involving the sale, issuance, or potential issuance by the issuer of ordinary shares (or securities convertible into or exercisable for ordinary shares) equal to 20% or more of the ordinary shares or 20% or more of the voting power outstanding before the issuance for a price that is less than the lower of (i) the company’s Nasdaq Official Closing Price (as reflected on Nasdaq.com) immediately preceding the signing of the binding agreement, or (ii) the average of the company’s Nasdaq Official Closing Price (as reflected on Nasdaq.com) for the five trading days immediately preceding the signing of the binding agreement (the “Minimum Price”). Pursuant to Nasdaq rules, the presence of any provision that could cause the conversion or exercise price of a convertible security to be reduced to below the Minimum Price immediately before the entering into of the binding agreement will cause the transaction to be viewed as a discounted issuance.

Because the total aggregate number of shares of ordinary shares issuable upon exercise of the Series B Warrants, when combined with the ordinary shares and ordinary shares issuable upon exercise of the Series A Warrants issued in the Transaction, may exceed 19.99% of the outstanding shares of our ordinary shares at a price lower than the Minimum Price, we are asking stockholders to approve of such issuance pursuant to Nasdaq Listing Rule 5635(d).

Effect of the Proposal

If the Company does not obtain Stockholder Approval at the first meeting, the Company will call a