Company: KG
Filing Date: 2025-03-26
Form Type: 424B3
Source: 0001104659-25-028251
Chunk: 210

Company: Kestrel Group Ltd
Filing Date: 2025-03-26
Form: 424B3
Chunk 210
---
Co, Bermuda NewCo and the Merger Subs Obligations to Complete the Transaction

The respective obligations of Maiden, Kestrel, the Kestrel equityholders, US NewCo, Bermuda NewCo and the Merger Subs to effect the transaction are subject to the satisfaction (or waiver by Kestrel, Maiden and each of KILH and AmTrust, if permissible under applicable law) on or prior to the date of the closing of the following conditions:

•

Maiden has obtained approval by the Maiden shareholders of the first merger resolution;

•

any waiting period (and any extensions thereof) applicable to the transaction under the HSR Act has been terminated or has expired and the approvals or non-disapprovals of the Texas Department of Insurance, the Vermont Department of Financial Regulation, the Swedish Financial Supervisory Authority and the United Kingdom Financial Conduct Authority have been obtained;

•

no injunction, judgment or ruling enacted, promulgated, issued, entered, amended or enforced by any governmental authority is in effect enjoining, restraining or otherwise making illegal or prohibiting the consummation of the second merger, the first merger and the Kestrel Contribution, or has imposed a burdensome condition;

•

no burdensome conditions has been imposed by a governmental authority;

•

effectiveness of the registration statement for the Bermuda NewCo shares being issued in the transaction (of which this proxy statement/prospectus forms a part) and the absence of any stop order suspending such effectiveness or pending proceeding for that purpose;

•

the Bermuda NewCo common shares to be issued in the second merger have been approved for listing on the Nasdaq, subject to official notice of issuance; and

•

execution and delivery at the closing of the amended and restated option agreement by AmTrust in order for such agreement to be in full force and effect as of the second merger effective time.

Conditions to Maiden’s, US NewCo’s, Bermuda NewCo’s and the Mergers Subs’ Obligation to Complete the Transaction

The obligations of Maiden, US NewCo, Bermuda NewCo and the Merger Subs to effect the transaction are subject to the satisfaction (or waiver by Maiden, if permissible under applicable law) on or prior to the date of the closing of the following conditions:

•

the representation and warranty of Kestrel set forth in the combination agreement with respect to the absence of any effect, change, circumstance or event since December 31, 2023 that would (i) have a Kestrel material adverse effect or (ii) reasonably