Company: OXBRW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000736
Chunk: 402

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1
Chunk 402
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 the Offering, neither
the Company nor any of its subsidiaries will issue, enter into any agreement to issue or announce the issuance or proposed issuance of
any ordinary shares or ordinary share equivalents. The Securities Purchase Agreement also provides that, subject to certain exceptions,
for 60 days after the closing of the Offering, the Company will be prohibited from effecting or entering into an agreement to effect
any issuance by the Company or any of its subsidiaries of ordinary shares or ordinary share equivalents (or a combination of units thereof)
involving a Variable Rate Transaction (as defined in the Securities Purchase Agreement).

    F-29

OXBRIDGE
RE HOLDINGS LIMITED AND SUBSIDIARIES

Notes
to Consolidated Financial Statements, Continued

The
net proceeds to the Company from the Offering, after deducting the fees of Maxim Group LLC (the “Placement Agent”) and the
Company’s estimated offering expenses, are expected to be approximately $2.7 million.

The
ordinary shares were being offered and sold pursuant to the Company’s Registration Statement on Form S-3 (Registration No. 333-262590)
previously filed with the Securities and Exchange Commission (the “SEC”) and declared effective, the base prospectus included
therein and the related prospectus supplement. The Warrants were issued in a private placement and were exempt from registration under
the Securities Act of 1933, as amended (the “Securities Act”), in reliance on Section 4(a)(2) thereof as a transaction not
involving a public offering and/or Rule 506 of Regulation D promulgated thereunder. The Company has agreed to file a registration statement
providing for the resale by the Investors of the ordinary shares issuable upon exercise of the Warrants within 60 days of the date of
the Securities Purchase Agreement.

The
Company has agreed to hold an annual or special meeting on or before June 30, 2025, to have shareholders approve the issuance of the
ordinary shares underlying the Series B Warrants at the combined effective offering price of $4.25 pursuant to applicable Nasdaq rules.

The
Company paid the Placement Agent a cash fee of 6.0% of the gross proceeds from the Offering and reimburse the Placement Agent for its
expenses, including the reimbursement of legal fees up to an aggregate of $45,000.

Launch
of Tokenized Securities

On
February 26, 2025, the Company and its indirect 80%-owned subsidiary SurancePlus Inc.