Company: OXBRW
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001493152-25-021063
Chunk: 71

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 71
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 no preemptive right or conversion rights. The Participation Shares solely conferred contractual rights against SurancePlus
as contained in the PSIC.

During
the three month period ended June 30, 2025, the Company and its indirectly owned subsidiary SurancePlus Inc., announced the commencement
of an offering by SurancePlus of Participation Shares (the “Securities”) represented by digital tokens to be issued under
a 3-year Participation Share Investment Contract (the “PSIC”). The Participation Shares are not shares in SurancePlus and
shall have no preemptive 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