Kestrel Group Ltd (KG): M&A transaction — Kestrel Group files post-merger financials; revenue restated, Q1 2025 revenue down 32%

Kestrel Group Ltd

Merger with Maiden Holdings closed May 27, 2025; Kestrel now part of Bermuda NewCo.
Revenue restatement due to ASC 606 timing error; cumulative retained earnings increase $813,594 as of Jan 1, 2025.
Q1 2025 revenue $807K vs $1.18M in Q1 2024 (-32%); net loss $394K vs $377K.
Q1 2025 provision for income taxes $92,462; no tax provision in Q1 2024.

item 9.01 item 2.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Kestrel Group Ltd underwent a change of control involving Maiden Holdings, Ltd. (closed 2025-05-27).

Action: change of control
Counterparty: Maiden Holdings, Ltd.
Closing: 2025-05-27

Exact text from the filing

the consummation on May 27, 2025 of the series of mergers contemplated by the combination agreement, dated December 29, 2024, by and between Maiden Holdings, Ltd., Kestrel Group LLC, a Delaware limited liability company (“Kestrel”), the equity holders of Kestrel, Ranger Bermuda Topco Ltd, a Bermuda exempted company limited by shares, and the other parties thereto.

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Source: SEC EDGAR

accession 0001104659-25-078918

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