AMERINST INSURANCE GROUP LTD: M&A transaction — AmerInst Insurance Group completes Protexure asset sale for $1.5M

On October 31, 2023, Protexure Insurance Agency, Inc. (“PIA”), a Delaware corporation wholly owned by AmerInst Mezco, Ltd., a Bermuda entity wholly owned by AmerInst Insurance Group, Ltd., and Protexure Risk Purchasing Group, Inc. (“RPG,” and, together with PIA, “Protexure”), an Illinois not-for-profit corporation, completed the previously announced sale of substantially all of Protexure’s assets (other than cash and certain excluded assets) to MAC 43, LLC, an Ohio limited liability company (the “Purchaser”), pursuant to that certain Asset Purchase Agreement, dated as of June 15, 2023, by and among PIA, RPG, and Purchaser (as amended, the “APA”), in exchange for a purchase price of $1,500,000, paid in cash (the “Asset Sale”).