Company: OXBRW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000736
Chunk: 83

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: 10-K
Item: Item 13
Chunk 83
---
 6,099,051  
     5,867,129 
  
    Weighted average shares - diluted 
     6,099,051  
     5,867,129 
  
    Loss per share - basic 
    $(0.45) 
     (1.69)
  
    Loss earnings per share - diluted 
    $(0.45) 
     (1.69)

For
the years ended December 31, 2024, and 2023, options to purchase 846,250 ordinary shares and 8,230,700 warrants to purchase an aggregate
of 8,230,700 ordinary shares were anti-dilutive due to the net losses during those years.

GAAP
requires the Company to use the two-class method in computing basic loss per share since holders of the Company’s restricted stock
have the right to share in dividends, if declared, equally with common stockholders. These participating securities effect the computation
of both basic and diluted loss per share during the years ended December 31, 2024 and 2023.

    F-22

OXBRIDGE
RE HOLDINGS LIMITED AND SUBSIDIARIES

Notes
to Consolidated Financial Statements, Continued

9.
EQUITY

ORDINARY
SHARES

There
were 6,379,002 and 5,870,234 ordinary shares outstanding at December 31, 2024 and 2023, respectively.

For
the year ended December 31, 2024, we have sold 372,341 ordinary shares under the ATM program for gross proceeds of $1,166,044 at an average
price of $3.13 per share. After deducting commissions related to the ATM offering of $34,981, the net proceeds we received from the transactions
were $1,131,063. The proceeds from the ATM sales are being used for general corporate purposes.

Subsequent
to December 31, 2024, we have sold 97,715 ordinary shares under the ATM program for gross proceeds of $448,858 at an average price of
$4.59 per share. After deducting commissions related to the ATM offering of $13,465, the net proceeds we received from the transactions
were $435,393. The proceeds from the ATM sales are being used for general corporate purposes.

WARRANTS

On
January 29, 2024, the Company extended the expiration date of the warrants (NASDAQ: