Company: OXBRW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000736
Chunk: 44

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: 10-K
Item: Item 12
Chunk 44
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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 529,413 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