Company: OXBRW
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001493152-25-021063
Chunk: 76

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 76
---
 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 the issuance or proposed issuance of
any ordinary shares or ordinary share equivalents. The Securities Purchase Agreement also provides that, subject to certain exceptions,
for 60 days after the closing of the Offering, the Company will be prohibited from effecting or entering into an agreement to effect
any issuance by the Company or any of its subsidiaries of ordinary shares or ordinary share equivalents (or a combination of units thereof)
involving a Variable Rate Transaction (as defined in the Securities Purchase Agreement).

The
net proceeds to the Company from the Offering, after deducting the fees of Maxim Group LLC (the “Placement Agent”) and the
Company’s estimated offering expenses, were approximately $2.7 million.

The
ordinary shares are being offered and sold pursuant to the Company’s Registration Statement on Form S-3 (Registration No. 333-262590)
previously filed with the Securities and Exchange Commission (the “SEC”) and declared effective, the base prospectus included
therein and the related prospectus supplement. The Warrants were issued in a private placement and were exempt from registration under
the Securities Act of 1933, as amended (the “Securities Act”), in reliance on Section 4(a)(2) thereof as a transaction not
involving a public offering and/or Rule 506 of Regulation D promulgated thereunder. The Company has agreed to file a registration statement
providing for the resale by the Investors of the ordinary shares issuable upon exercise of the Warrants within 60 days of the date of
the Securities Purchase Agreement.

The
Company held an annual meeting on May 8, 2025, and shareholders approved the issuance of the ordinary shares underlying the Series B
Warrants at the combined effective offering price of $4.25 pursuant to applicable Nasdaq rules.

The
Company paid the Placement Agent a cash fee of 6.0% of the gross proceeds from the Offering and reimburse the Placement Agent for its
expenses