M&A - CM BERMUDA Ltd

Form Type: SCHEDULE 13D/A

Filing Date: 2025-03-03

Corporate Action: Acquisition

Type: Update

Accession Number: 000095017025030972

Filing Summary: This document is an Amendment No. 4 to Schedule 13D relating to SiriusPoint Ltd. It provides updates on the acquisition of Common Shares and Warrants by CM Bermuda Ltd in accordance with a Securities Purchase Agreement. The agreement concluded on February 27, 2025, involved the purchase of 20,991,337 Warrants at $3.56 each and 45,720,732 Common Shares at $14.25 each, totaling $733 million. Following the closing of the transaction, CM Bermuda no longer holds any ownership in the company, which is indicated by their beneficial ownership falling to 0%. The amendment also notes the resignation of board member Meng Tee Saw and the termination of an Investor Rights Agreement. Additionally, all security interests previously held by CM Bermuda were released upon closing.

Form Type: SCHEDULE 13D/A

Filing Date: 2025-01-02

Corporate Action: Acquisition

Type: Update

Accession Number: 000095017025000404

Filing Summary: 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.