Company: OXBRW
Filing Date: 2025-03-26
Form Type: DEF 14A
Source: 0001641172-25-000739
Chunk: 15

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: DEF 14A
Chunk 15
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 proceeds raised in the Transaction and to reimburse the Placement Agent for certain of its expenses in an aggregate amount up to $45,000.

For further information regarding these agreements and the Transaction, please refer to our Current Report on Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on February 26, 2025. The discussion herein relating to the Placement Agency Agreement, the Purchase Agreement and the Warrants is qualified in its entirety by reference to the transaction documents filed as exhibits to such Form 8-K.

Description of Series B Warrants

The following is a brief summary of certain terms and provisions of the Series B Warrants and is subject in all respects to the provisions contained in the Series B Warrants.

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Exercisability.The Series B Warrants will be exercisable on the date that is the earlier of (i) (the “Stockholder Approval Date”) on which the stockholders of the Company approve the issuance of all of the Series B Warrants and the shares of ordinary shares issuable upon the exercise of the Series B Warrants (the “Stockholder Approval”) or (ii) six months from issuance. We agreed to hold an annual or special meeting of stockholders on or before June 30, 2025 for the purpose of obtaining Stockholder Approval. The Series B Warrants will be exercisable, at the option of each holder, in whole or in part by delivering to us a duly executed exercise notice and by payment in full in immediately available funds for the number of shares of our ordinary shares purchased upon such exercise. If, at the time of exercise a registration statement registering the issuance of the shares of ordinary shares underlying the Series B Warrants under the Securities Act is not effective or available, the holder may, in its sole discretion, elect to exercise the Series B Warrants through a cashless exercise, in which the holder would receive upon such exercise the net number of shares of ordinary shares determined according to the formula set forth in the Series B Warrants.

Exercise Limitation.A holder will not have the right to exercise any portion of the Series B Warrants if the holder would beneficially own in excess of 4.99% (or, at the election of the holder, 9.99%) of the outstanding ordinary shares immediately after exercise, except that upon notice from the holder to us, the holder may increase or decrease the beneficial ownership limitation up to 9.99% of the number of shares of our ordinary shares outstanding immediately after giving effect to the