Company: OXBRW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000736
Chunk: 288

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1
Chunk 288
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27, 2023, we, through SurancePlus, issued a press release announcing the commencement of an offering by SurancePlus of up to $5.0
million of DeltaCat Re Tokens (“Tokens”) with a purchase price of $10.00 per Token and representing one share of Series DeltaCat
Re Preferred Shares per Token (the “Private Placement”).

On
June 27, 2023, SurancePlus completed the Private Placement. The aggregate amount raised in the Private Placement was $2,447,760 for the
issuance of 244,776 Tokens, of which approximately $1,280,000 was received from third-party investors and approximately $1,167,000 was
received from Oxbridge Re Holdings Limited.

On
September 11, 2023, the DeltaCat Re tokens were reclassified as tokenized interests carrying rights equivalent to the DeltaCat Re Preferred
Shares in accordance with the provisions of the British Virgin Islands law.

On
March 18, 2024, Oxbridge Re Holdings Limited (the “Company”) and its indirect subsidiary SurancePlus Inc. (“SurancePlus”),
a British Virgin Islands Business Company, 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 confer
contractual rights against SurancePlus as contained in the PSIC. At the offering’s commencement, up to one million (1,000,000)
Participation Shares will be issued, represented by digital tokens labelled “EpsilonCat Re”. The quantity of Participation
Shares to be issued in subsequent years of 2025, and 2026, shall be disclosed prior to their issuances. At the start of the offering,
the Participation Shares were offered at an initial price of $10.00 per Participation Share.

The
net proceeds from the offer and sale of the Participation Shares were used by SurancePlus to purchase a participating note of Oxbridge
Re NS, an affiliated Cayman Islands licensed reinsurance entity, and the proceeds from the sale of such participating note were invested
in collateralized reinsurance contracts to be underwritten by Oxbridge Re NS. The holders of the Participation Shares will generally
be entitled to proceeds from the payment of the participating notes in the amount of a