Company: OXBRW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000736
Chunk: 233

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: 10-K
Item: Item 16
Chunk 233
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 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. (“SurancePlus”), a British Virgin Islands
Business Company, 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 (or the Company) and shall have no preemptive right or conversion rights. The Participation Shares solely
confer contractual rights against SurancePlus as contained in the PSIC. At the offering’s commencement, up to an aggregate of one
million (1,000,000) Participation Shares will be issued, represented by digital tokens labelled “ZetaCat Re” and “EtaCat
Re”, representing high yield and balanced yield tokens, respectively. 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, with a 5% and 10% discount per Participation Share for investments above
$50,000 and $100,000, respectively.

The
net proceeds from the offer and sale of the Participation Shares will be used by SurancePlus to purchase one or more participating notes
of Oxbridge Re NS, an affiliated Cayman Islands licensed reinsurance entity, and the proceeds from the sale of such participating notes
will be invested in collateralized reinsurance contracts to be underwritten by Oxbridge Re NS. The holders of the Participation Shares
will generally be entitled to proceeds from the payment of the participating notes in the amount of a preferred return equal to the initial
Participation Share price, plus 20%, and then 80% of any proceeds in excess of the amount necessary to pay the preferred return.

The
Securities have not been registered under the Securities Act or any state or
other