---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-117680"
form_type: "8-K"
ticker: "JRVR"
cik: "0001620459"
company_name: "James River Group Holdings, Inc."
filed_at: "2024-11-13T23:59:59+00:00"
generated_at: "2026-05-30T00:56:52.524976+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# James River Group restructures preferred shares, raises $12.5M, and secures $75M adverse development cover

## Summary
- Exchanged 37,500 Series A Preferred for 5.9M common shares at $6.40/share; private placement of 1.95M shares to Cavello Bay for $12.5M.
- Entered ADC reinsurance with Cavello Bay covering 100% of losses above $1.1837B retention, up to $75M limit; premium $52.8M.
- Series A Preferred conversion price reset to $8.32 (130% of $6.40); mandatory conversion if stock exceeds $16.64 for 20 days.
- Dividend on Series A Preferred stays 7% until Sept 2029, then resets to 5-yr Treasury plus 5.2%, capped at 8%.
- Closings subject to Bermuda Monetary Authority approval and satisfaction of ADC conditions.

## SEC filing metadata
- accession: 0001104659-24-117680
- form_type: 8-K
- ticker: JRVR
- cik: 0001620459
- company_name: James River Group Holdings, Inc.
- filed_at: 2024-11-13T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 3.03, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1620459/000110465924117680/0001104659-24-117680-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1620459/000110465924117680/tm2428256d1_8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-117680
- JSON: https://secwatch.observer/filing/0001104659-24-117680.json
- Plain text: https://secwatch.observer/filing/0001104659-24-117680.txt

## Key facts
- Governance Changes
  James River Group Holdings, Inc.: On November 11, 2024, the Company amended its Certificate of Designations for the 7% Series A Perpetual Cumulative Convertible Preferred Shares to modify conversion rights, dividend terms, and other preferences of holders (effective 2024-11-11).
  - Change: charter amendment
  - Effective: 2024-11-11
  source text: Amended and Restated Certificate of Designations On November 11, 2024, the Company entered into the Amended and Restated Certificate of Designations of the 7% Series A Perpetual Cumulative Convertible Preferred Shares (the “A&R Certificate of Designations”) in order to amend and restate the rights of holders of the Series A Preferred Shares, as more particularly set forth below:
  evidence_url: https://www.sec.gov/Archives/edgar/data/1620459/000110465924117680/0001104659-24-117680-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.