Company: OXBRW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000736
Chunk: 500

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1A
Chunk 500
---
. The Sponsor distributed $393,195 to the Company representing the repayment of its extension loan of $284,765, working capital
loan of $61,906, and dividend redistribution of $46,524.

    F-28

OXBRIDGE
RE HOLDINGS LIMITED AND SUBSIDIARIES

Notes
to Consolidated Financial Statements, Continued

16.
PROPERTY AND EQUIPMENT, NET

Property
and equipment, net consist of the following (in thousands):

SCHEDULE
OF PROPERTY AND EQUIPMENT, NET

    2024  
    2023 

    At December 31, 

    2024  
    2023 

    Leasehold improvements 
    $21  
    $21 
  
    Furniture and Fixtures 
     41  
     41 
  
    Motor vehicle 
     34  
     34 
  
    Computer equipment and software 
     39  
     39 
  
    Total, at cost 
     135  
     135 
  
    less accumulated depreciation and amortization 
     (134) 
     (131)
  
    Property and equipment, net 
    $1  
    $4 

17.
SUBSEQUENT EVENTS

We
evaluate all subsequent events and transactions for potential recognition or disclosure in our consolidated financial statements.

ATM
Facility

Subsequent
to December 31, 2024, and through the date of issuance of these financial statements, we sold an additional 97,715 ordinary shares under
the ATM program for gross proceeds of $448,858, at an average price $4.59 per ordinary share. After deducting commissions related to
the ATM offering of $13,465, the net proceeds we received from the transactions were $435,393. We plan to use the proceeds for working
capital and general corporate purposes.

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,