Company: MHLA
Filing Date: 2025-04-04
Form Type: 425
Source: 0001412100-25-000030
Chunk: 1

Company: Maiden Holdings, Ltd.
Filing Date: 2025-04-04
Form: 425
Chunk 1
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 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

| Item 3.01 |     | Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |

On April 2, 2025, Maiden Holdings, Ltd. (“ Maiden ”) received a letter from the listing qualifications department staff of The Nasdaq Stock Market LLC (“ Nasdaq ”), notifying Maiden that for the last 30 consecutive business days the bid price of Maiden’s common shares, par value $0.01 per share (“ Maiden shares ” and each, a “ Maiden share ”), had closed below $1.00 per share, the minimum closing bid price required by the continued listing requirements of Nasdaq set forth in Listing Rule 5550(a)(2) (the “ Rule ”). Nasdaq’s notice has no immediate effect on the listing of Maiden’s common shares on The Nasdaq Capital Market, which shares continue to trade under the symbol “MHLD”.

In accordance with Listing Rule 5810(c)(3)(A), Maiden has 180 calendar days, or until September 29, 2025, to regain compliance with the Rule (the “ Compliance Period ”). To regain compliance, the closing bid price of Maiden’s shares must be at least $1.00 per share for a minimum of ten consecutive business days during the Compliance Period, after which ten consecutive business days Nasdaq would provide Maiden with written notice confirming compliance and the matter would be closed. If Maiden does not regain compliance by September 29, 2025, Maiden may be eligible for an additional 180 calendar day compliance period pursuant to Listing Rule 5810(c)(3)(A)(ii).

As previously announced, on December 29, 2024, Maiden entered into a Combination Agreement (as amended, the “ Combination Agreement ”) with Kestrel Group, LLC, a Delaware limited liability company (“ Kestrel ”), the equityholders of Kestrel (the “ Kestrel Equityholders ”), Ranger U.S. Newco LLC, a Delaware limited liability company (“ US NewCo ”), Ranger Bermuda Merger Sub Ltd, a Bermuda exempted company limited by shares and a direct wholly owned subsidiary of US New