Company: OXBRW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023960
Chunk: 118

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 118
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 net proceeds we received from the transactions
were $435,393. The proceeds from the ATM sales are being used for general corporate purposes.

Subsequent
to June 30, 2025, we have sold 50,000 ordinary shares under the ATM program for gross proceeds of $117,778 at an average price of $2.36
per share. After deducting commissions related to the ATM offering of $3,533, the net proceeds we received from the transactions were
$114,245. The proceeds from the ATM sales are being used for general corporate purposes.

Securities
Purchase Agreement

On
February 24, 2025, the Company and an institutional investor (the “Investor”) entered into a securities purchase agreement
(the “Securities Purchase Agreement”) relating to the issuance and sale of ordinary shares of the Company pursuant to a registered
direct offering and a private placement of warrants to purchase ordinary shares (collectively, the “Offering”).

The
Investor purchased approximately $3.0 million in the Offering, consisting of an aggregate of 705,884 ordinary shares, Series A Warrants
to purchase up to an aggregate of 529,413 ordinary shares (the “Series A Warrants”) and Series B Warrants to purchase up
to an aggregate of 882,355 ordinary shares (the “Series B Warrants” and together with the Series A Warrants, the “Warrants”).
The combined effective Offering price for each ordinary share and the accompanying Warrants was $4.25. The Series A Warrants are immediately
exercisable, expire two years from the initial exercise date and have an exercise price of $4.25 per share. The Series B Warrants will
be exercisable on the earlier of the date of shareholder approval or six months from the date of issuance, expire five years from the
initial exercise date and have an exercise price equal to the lower of (i) $5.00 and (ii) from and after the date the Company receives
shareholder approval, $4.25 per share.

The
Securities Purchase Agreement provides that, subject to certain exceptions, until 60 days after the closing of the Offering, neither
the Company nor any of its subsidiaries will issue, enter into any agreement to issue or announce the issuance or proposed issuance of
any ordinary shares or ordinary share equivalents. The Securities Purchase Agreement also provides that, subject to certain exceptions,
for 60 days after the closing of the Offering, the Company will