Company: OXBRW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023960
Chunk: 80

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 80
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The
Company held an annual meeting on May 8, 2025, and shareholders approved the issuance of the ordinary shares underlying the Series B
Warrants at the combined effective offering price of $4.25 pursuant to applicable Nasdaq rules.

The
Company paid the Placement Agent a cash fee of 6.0% of the gross proceeds from the Offering and reimburse the Placement Agent for its
expenses, including the reimbursement of legal fees up to an aggregate of $45,000.

    18

OXBRIDGE
RE HOLDINGS LIMITED AND SUBSIDIARIES

Notes
to Consolidated Financial Statements (unaudited) 

June
30, 2025

10.
DIVIDENDS

As
of December 31, 2024, none of the Company’s accumulated deficit were restricted from payment of dividends to the company’s
shareholders. However, since most of the Company’s capital and retained earnings may be invested in its subsidiaries, a dividend
from any reinsurance subsidiaries would likely be required in order to fund a dividend to the Company’s shareholders and would
require notification to the Cayman Islands Monetary Authority (“CIMA”).

Under
Cayman Islands law, the use of additional paid-in capital is restricted, and the Company will not be allowed to pay dividends out of
additional paid-in capital if such payments result in breaches of the prescribed and minimum capital requirement.

11.
SHARE-BASED COMPENSATION 

The
Company currently has outstanding share-based awards granted under the 2014 Omnibus Incentive Plan (the “2014 Plan”) and
the 2021 Omnibus Incentive Plan (the “2021 Plan”) (hereinafter collectively referred to as “the Plans”). Under
each of the Plans, the Company has discretion to grant equity and cash incentive awards to eligible individuals, including the issuance
of up to 1,000,000 of the Company’s ordinary shares. During the period ended June 30, 2025, the Company granted an aggregated of
83,162 restricted stock to directors, officers and employees under the 2021 Plan. At June 30, 2025, there were 675,764 shares and 11,750
shares available for grant under the 2021 Plan and the 2014 Plan, respectively.

Stock
options

Stock
options granted and outstanding under the Plan vests quarterly over four years and are exercisable over the contractual term of ten years.

A
summary of the stock