Company: OXBRW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000736
Chunk: 583

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1C
Chunk 583
---
 have low overhead expenses. We believe that our expense efficiency, agility and existing
relationships support our competitive position and allows us to profitably participate in lines of business that fit within our strategy.
Over time we expect our expense advantage could erode as the industry seeks to reduce frictional costs.

Recent
Developments

Formation
of SurancePlus

SurancePlus,
an indirect 80% owned subsidiary of the Company, was incorporated as a British Virgin Islands Business Company on December 19, 2022
for the purpose of tokenizing reinsurance contracts underwritten by its affiliated licensed reinsurer, Oxbridge Re NS.

On
March 27, 2023, we, through SurancePlus, issued a press release announcing the commencement of an offering by SurancePlus of up to $5.0
million of DeltaCat Re Tokens with a purchase price of $10.00 per DeltaCat Re Token and representing one share of Series DeltaCat Re
Preferred Shares per DeltaCat Re Token (the “Private Placement”).

On
June 27, 2023, SurancePlus completed the Private Placement. The aggregate amount raised in the Private Placement was $2,447,760 for the
issuance of 244,776 DeltaCat Re Tokens, of which approximately $1,280,000 was received from third-party investors and approximately $1,167,000
was received from Oxbridge Re Holdings Limited.

On
September 11, 2023, the DeltaCat Re tokens were reclassified as tokenized interests carrying rights equivalent to the DeltaCat Re Preferred
Shares in accordance with the provisions of British Virgin Islands law.

On
March 18, 2024, Oxbridge Re Holdings Limited 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 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 and shall have no preemptive right or conversion rights. The Participation Shares solely conferred
contractual rights against SurancePlus as contained in the PSIC. The quantity of Participation Shares to be issued in subsequent years
of 2025, and 2026, shall be disclosed prior to their issuances. At the start of the offering, the Participation Shares were offered at
an initial price of $10.00 per Participation Share.

The