Company: OXBRW
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001493152-25-021063
Chunk: 23

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 23
---
-trading day period in which the Company’s ordinary shares traded above $9.38 per share for at least ten trading days.

There
were 8,230,700 warrants outstanding at September 30, 2025 and December 31, 2024. One warrant may be exercised to acquire one ordinary
share at an exercise price equal to $7.50 per share on or before March 26, 2029. The Company at its option may cancel the warrants in
whole or in part, provided that the closing price per ordinary share has exceeded $9.38 for at least ten trading days within any period
of twenty consecutive trading days, including the last trading day of the period. No warrants were exercised during the period ended
September 30, 2025.

Securities
purchase agreement

On
February 24, 2025, the Company and an institutional investor (the “Investor”) entered into a securities purchase agreement
(the “Securities Purchase Agreement”) relating to the issuance and sale of 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