Company: OXBRW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000736
Chunk: 162

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: 10-K
Item: Item 15
Chunk 162
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 Equity securities, Gross proceeds from sales  
    Equity securities, Gross Realized Gains  
    Equity securities, Gross Realized Losses 

    Gross proceeds from sales  
    Gross Realized Gains  
    Gross Realized Losses 

    ($ in thousands) 

    Year ended December 31, 2024 

    Equity securities 
    $307  
    $               -  
    $              - 

Other
Investments 

On
August 7, 2023, Oxbridge Acquisition Corp. (“OXAC”) held an extraordinary general meeting at which the business
combination with Jet Token, Inc. was approved by OXAC shareholders. In conjunction with the business combination, OXAC was
redomesticated as a Delaware entity, and changed its name to Jet.AI Inc (“Jet.AI”). The business combination was closed on August 10, 2023,
and on August 11, 2023, OXAC common stock and warrants began trading on the Nasdaq Global Market under the new ticker symbols JTAI
and JTAIW.

The
Company’s beneficial interests in Jet. AI’s common stock, public warrants and Series A-1 Preferred Shares are recorded at
fair value and are classified in “Other Investments” on the consolidated balance sheets. The fair value calculation of the
Company’s beneficial interest in Jet.AI’s common stock and public warrants is dependent on the observable trading prices
of JetAI’s common stock and public warrants. The fair value calculation of the Company’s beneficial interest in the Series
A-1 Preferred Share is estimated to be the pro-rata original principal amount of the Preferred Share due to the short-term nature.

The
Sponsor previously held 575 Series A-1 preferred shares with purchase price of $1,000 each, and 2,875,000 ordinary shares along with
4,897,500 warrants. One of the Company’s executive officers is an independent member of Jet.AI’s board. The Company’s
wholly-owned licensed reinsurance subsidiary, Oxbridge Reinsurance Limited (“Oxbridge Reinsurance”), was the lead investor
in the Sponsor and at June 30, 2024, held the equivalent of 1,423,827 of Jet.AI Inc’s common stock (NASDAQ: JTAI) and 3,094,999
of Jet.AI Inc’s warrants (NASDAQ: JTAIW). On July 29, 2024