Oxbridge Re Hldg Stock Price, News & Analysis

Oxbridge Re Holdings (NASDAQ: OXBR) has announced two significant developments through its Web3-focused subsidiary, SurancePlus Inc. Firstly, SurancePlus has partnered with Zoniqx, a digital asset management pioneer, to expand its footprint in tokenizing reinsurance securities. This collaboration aims to revolutionize the reinsurance industry by leveraging blockchain technology.

Secondly, SurancePlus has successfully completed a private placement of 287,705 Participation Shares, represented by EpsilonCat Re digital tokens, raising approximately $2.88 million. These tokens, issued on the Avalanche blockchain, have a targeted 42% return over a 3-year period. This follows the success of their previous DeltaCat Re offering, which achieved a 49.11% return. The EpsilonCat Re tokens were offered to accredited investors in the US under SEC Regulation D and to non-US investors under Regulation S.

Oxbridge Re Holdings announced a 49.11% return on its DeltaCat Re tokenized reinsurance security for the 2023/24 period, exceeding its initial projection of 42%. The digital security was offered to US accredited investors under SEC Regulation D and to non-US investors pursuant to Regulation S. Jay Madhu, President and CEO, highlighted the integration of digital innovations that made reinsurance more accessible through the Avalanche blockchain. The company looks forward to the future with the upcoming EpsilonCat Re token capital raise. This achievement underscores Oxbridge Re's commitment to pioneering in the tokenized real-world asset (RWA) market.

Oxbridge Re Holdings, listed on NASDAQ as OXBR, announced its Board of Directors will evaluate strategic alternatives to maximize shareholder value. The alternatives include a sale, spinout, merger, divestiture, recapitalization, or continuing operation as an independent public company. CEO Jay Madhu emphasized the company's commitment to exploring opportunities for continued success. However, there is no assurance that any transaction will occur or be completed on favorable terms. No specific timetable for the review's conclusion has been set, and the company will not provide further updates until necessary.

Oxbridge Re Holdings reported its first quarter 2024 results, highlighting operational performance in Web-3 and reinsurance tokenization business. The Company's financials showed an increase in net premiums earned, but a net loss of $905,000 compared to a net income of $142,000 in the first quarter of 2023. The loss was primarily due to negative changes in the fair value of equity securities. Despite higher expenses, the Company remains focused on driving innovation and delivering value to stakeholders.

Oxbridge Re (NASDAQ: OXBR) announced its plans to hold a conference call on May 9, 2024, to discuss the first-quarter results ended on March 31, 2024. The call will include a presentation by management, followed by a Q&A session. Interested parties can tune in through a toll-free or international number. A replay will be available via telephone and the company's website until May 23, 2024.