Company: OXBRW
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001493152-25-021063
Chunk: 19

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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ive right or conversion rights. The Participation Shares solely conferred contractual rights against SurancePlus
as contained in the PSIC. Under the offering, Participation Shares will be issued, represented by digital tokens labelled “ZetaCat
Re” and “EtaCat Re” at an initial price of $10.00 per Participating Share. The quantity of Participation Shares to
be issued in subsequent years of 2026, and 2027, shall be disclosed prior to their issuances. At the start of the offering, the Participation
Shares will be offered at an initial price of $10.00 per Participation Share.

On
July 31, 2025, SurancePlus completed its private placement (the “Private Placement”) of Participation Shares (the “Securities”)
represented by digital tokens issued under a 3-year Participation Share Investment Contract (the “PSIC”). On July 31, 2025,
SurancePlus entered into subscription agreements with investors in the Private Placement with respect to 361,191 of the Participation
Shares represented by the digital tokens, ZetaCat Re (156,191 tokens) and EtaCat Re (205,000 tokens) at a purchase price of $10.00 per
Participation Share for aggregate gross proceeds of $3,611,910. The tokens were issued on the Avalanche blockchain. Ownership of the
ZetaCatRe and EtaCatRe tokenized Participation Shares indirectly conferred fractionalized interests in reinsurance contracts underwritten
by Oxbridge Re’s reinsurance subsidiary, Oxbridge Re NS, for the 2025-2026 treaty year. The Participation Shares are not shares
in SurancePlus have no preemptive right or conversion rights. The Participation Shares solely conferred contractual rights against SurancePlus
as contained in the PSIC.

The
Securities have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state or
other securities laws and may not be offered or sold in the United States absent an effective registration statement or an applicable
exemption from registration requirements or a transaction not subject to the registration requirements of the Securities Act or any state
or other securities laws. The Securities were sold in a transaction exempt from registration under the Securities Act and were sold only
to persons reasonably believed to be accredited investors in the United States under SEC Rule 506(c) under the Securities Act and outside
the United States only to non-U.S. persons in accordance with Regulation S under the Securities Act