Company: MHLA
Filing Date: 2025-03-26
Form Type: DEFM14A
Source: 0001104659-25-028254
Chunk: 53

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-26
Form: DEFM14A
Chunk 53
---
 | ​             | $ | 2.55 | ​ | ​ | ​ | ​   | $ | 1.49 | ​ | ​ |
| Third Quarter                          | ​ | ​ | ​             | $ | 2.18 | ​ | ​ | ​ | ​   | $ | 1.64 | ​ | ​ |
| Second Quarter                         | ​ | ​ | ​             | $ | 2.29 | ​ | ​ | ​ | ​   | $ | 1.81 | ​ | ​ |
| First Quarter                          | ​ | ​ | ​             | $ | 2.64 | ​ | ​ | ​ | ​   | $ | 2.01 | ​ | ​ |

33

TABLE OF CONTENTS

### RISK FACTORS
In addition to the other information included in, incorporated by reference in or found in the Annexes attached to, this proxy statement/prospectus, including the matters addressed in “Cautionary Note Concerning Forward-Looking Statements,” you should carefully consider the risks described below before deciding how to vote. The combined company’s business, financial condition and results of operations are subject to various risks and uncertainties noted throughout this proxy statement/prospectus, including those discussed below, which may affect the value of its securities. In addition to the risks discussed below, there may be additional risks not presently known to us or that we currently deem less significant that also may adversely affect its business, financial condition and results of operations, perhaps materially. Some statements in the risk factors constitute forward-looking statements. Please refer to the section entitled “Cautionary Note Concerning Forward-Looking Statements” in this proxy statement/prospectus. You should also read and consider the risk factors associated with the businesses of Maiden because these risk factors may affect the operations and financial results of the combined company. These risk factors may be found under Part I, Item 1A in Maiden’s Annual Report on Form 10-K for the year ended December 31, 2024 which is on file with the SEC and which is incorporated by reference into this proxy statement/prospectus. Furthermore, you should read and consider the other information in this proxy statement/prospectus and the other documents incorporated by reference herein. See “Where You Can Find More Information” for the location of information incorporated by reference in this proxy statement/ prospectus. Additional risks and uncertainties not presently known to Maiden, Kestrel or the combined company or that are not currently believed to be important also may adversely