Company: OXBRW
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001641172-25-009673
Chunk: 6

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 2
Chunk 6
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 ordinary shares of the Company pursuant to a registered direct offering and a private placement of warrants
to purchase ordinary shares (collectively, the “Offering”).

The Investor purchased approximately $3.0 million
in the Offering, consisting of an aggregate of 705,884 ordinary shares, Series A Warrants to purchase up to an aggregate of 529,413 ordinary
shares (the “Series A Warrants”) and Series B Warrants to purchase up to an aggregate of 882,355 ordinary shares (the “Series
B Warrants” and together with the Series A Warrants, the “Warrants”). The combined effective Offering price for each
ordinary share and the accompanying Warrants was $4.25. The Series A Warrants are immediately exercisable, expire two years from the initial
exercise date and have an exercise price of $4.25 per share. The Series B Warrants will be exercisable on the earlier of the date of shareholder
approval or six months from the date of issuance, expire five years from the initial exercise date and have an exercise price equal to
the lower of (i) $5.00 and (ii) from and after the date the Company receives shareholder approval, $4.25 per share.

The Securities Purchase Agreement provides that, subject
to certain exceptions, until 60 days after the closing of 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).

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, were approximately $2.7 million.

The ordinary shares are 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