M&A: CM BERMUDA Ltd

Form Type: SCHEDULE 13D/A

Filing Date: 2025-01-02

Corporate Action: Acquisition

Type: Update

Accession Number: 000095017025000404

Comments: This Amendment No. 3 to Schedule 13D relates to the Common Shares and Warrants of SiriusPoint Ltd., and amends prior filings. On December 30, 2024, CM Bermuda entered into a Securities Purchase Agreement with the Company to acquire 20,991,337 Warrants at $3.56 each and 45,720,732 Common Shares at $14.25 each, totaling $733.0 million. The first payment of $250.0 million was made at signing, with a second payment of $483.0 million due by February 28, 2025. After the closing, CM Bermuda will have no ownership interest in the Company, and a stop transfer order has been placed on the Securities. The agreement includes clauses regarding Impermissible Transfer Events and termination rights, including a $250.0 million fee if conditions for closing are not met. It also stipulates that Meng Tee Saw will resign from the Board upon closing, and the Investor Rights Agreement will be terminated, ending observer rights for CM Bermuda. The document outlines rights and responsibilities for both parties regarding ownership and transfer of Securities until closing.

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