other material
confidence high
sentiment neutral
materiality 0.70
Oxbridge Re raises $3.0M via registered direct offering and warrants issuance
OXBRIDGE RE HOLDINGS Ltd
- Sold 705,884 ordinary shares, 529,413 Series A warrants, and 882,355 Series B warrants at $4.25 combined effective price.
- Net proceeds expected ~$2.7M after placement agent fee of 6% and estimated offering expenses.
- Series A warrants immediately exercisable at $4.25 for 2 years; Series B warrants exercisable after shareholder approval or 6 months at lower of $5.00 or $4.25 for 5 years.
- Company to hold shareholder meeting by June 30, 2025 to approve issuance of Series B warrant shares per Nasdaq rules.
- 60-day lock-up on further equity issuances and variable rate transactions after closing.