Company: AHL
Filing Date: 2025-04-29
Form Type: F-1/A
Source: 0001628280-25-020463
Chunk: 100

Company: ASPEN INSURANCE HOLDINGS LTD
Filing Date: 2025-04-29
Form: F-1/A
Chunk 100
---
 agent may foreclose upon any and all ordinary shares pledged to them and also may seek recourse against AP Highlands Holdings and/or AP Highlands Co-Invest. Any foreclosure upon those ordinary shares by the lenders and/or the collateral agent could result in sales of a substantial number of our ordinary shares, which could substantially decrease the market price of our ordinary shares.

Upon completion of this offering, we will have a total of 91,841,482 ordinary shares outstanding (based on an assumed initial public offering price of $30.00 per ordinary share, which is the midpoint of the price range set forth on the cover page of this prospectus). All of our ordinary shares sold in this offering will be freely tradable without restriction or further registration under the Securities Act, by persons other than our “affiliates,” as that term is

<div align='center'>64</div>

defined under Rule 144 of the Securities Act. The remaining ordinary shares that will be outstanding after this offering are “restricted securities” within the meaning of Rule 144 under the Securities Act.

Upon the completion of this offering, we intend to file one or more registration statements on Form S-8 under the Securities Act to register our ordinary shares to be issued under the 2025 Incentive Plan and the U.K. SIP. These registration statements will become effective immediately on filing. Shares covered by these registration statements will then be eligible for sale in public markets, subject to vesting restrictions, the lock-up agreements described below (if applicable) and Rule 144 limitations applicable to affiliates. If our ordinary shares granted under the 2025 Incentive Plan are sold or it is perceived that they will be sold in the public market, the trading price of our ordinary shares could decline substantially. These sales also could impede our ability to raise future capital.

We and our executive officers, directors and the Apollo Shareholders will agree with the underwriters, subject to certain exceptions, not to dispose of or hedge any of our ordinary shares or securities convertible into or exchangeable for our ordinary shares during the period from the date of this prospectus continuing through the date 180 days after the date of this prospectus, except with the prior written consent of any two of the representatives of the underwriters. These lock-up agreements contain important exceptions that govern their applicability, including, with respect to the Apollo Shareholders, (1) the pledge or related transfer of our ordinary shares as collateral or security pursuant to the Private Facility, including in connection with any foreclosure and transfer in connection therewith