Oxbridge Re Holdings prices $3M registered direct offering

Oxbridge Re Holdings (OXBR) “announced that it has entered into a securities purchase agreement with a single institutional investor to purchase 705,884 ordinary shares in a registered direct offering. In a concurrent private placement, the Company also agreed to issue and sell unregistered Series A Warrants to purchase up to an aggregate of 529,413 ordinary shares, and unregistered Series B Warrants to purchase up to an aggregate of 882,355 ordinary shares. The combined effective offering price for each ordinary share and the accompanying Series A Warrants and Series B Warrants is $4.25. The Series A Warrants will be immediately exercisable, and will expire two years from the initial exercise date and will have an exercise price of $4.25 per share. The Series B Warrants will be exercisable on the earlier of shareholder approval or 6 months from issuance, and will expire five years from the initial exercise date and will have an exercise price equal to the lower of (i) the Nasdaq minimum price and (ii) from and after the date the Company receives shareholder approval, $4.25 per share. The combined gross proceeds to the Company from the registered direct offering and concurrent private placement are estimated to be approximately $3.0 million before deducting the placement agent’s fees and other estimated offering expenses payable by the Company. The offering is expected to close on or about February 26, 2025, subject to the satisfaction of customary closing conditions. Maxim Group LLC is acting as the sole placement agent in connection with the offering.”