CM Bermuda Ltd. Amends SiriusPoint Stake Filing

TL;DR

CM Bermuda Ltd. is now the one reporting on a SiriusPoint stake, replacing CMIG. Watch for details.

AI Summary

CM Bermuda Ltd. filed an amendment (No. 1) to its Schedule 13D on November 22, 2024, regarding its holdings in SiriusPoint Ltd. The filing indicates a change in the reporting person, with CM Bermuda Ltd. now listed as the filer, replacing CMIG International Holding Pte. Ltd. The specific details of the change in beneficial ownership or the exact percentage held are not detailed in this excerpt.

Why It Matters

This amendment signals a potential shift in the control or influence dynamics for SiriusPoint Ltd., as a new entity takes over the reporting of a significant stake.

Risk Assessment

Risk Level: medium — Changes in reporting entities for significant stakes can indicate shifts in strategy or ownership, requiring closer monitoring of the company's activities.

Key Players & Entities

• CM Bermuda Ltd. (company) — Reporting Person
• SiriusPoint Ltd. (company) — Subject Company
• CMIG International Holding Pte. Ltd. (company) — Previous Reporting Person
• Cheryl Li (person) — Authorized Contact

FAQ

Key Financial Figures

• $0.10 — e of Issuer) Common Shares, par value $0.10 per share (Title of Class of Securiti
• $125.0 million — ggregate consideration of approximately $125.0 million pursuant to the Share Repurchase Agreem
• $261.0 million — a total consideration of approximately $261.0 million upon the closing of the transactions co

Filing Documents

• d913205dsc13da.htm (SC 13D/A) — 55KB
• d913205dex99h.htm (EX-99.H) — 5KB
• 0001193125-24-263883.txt ( ) — 61KB

in the Original Schedule 13D is hereby amended and restated as follows

Item 5 in the Original Schedule 13D is hereby amended and restated as follows: (a) On the date of this Schedule 13D, the Reporting Persons may be deemed to beneficially own, in the aggregate, approximately 41.2% of the Common Shares outstanding. The calculation of the percentage of Common Shares beneficially owned by the Reporting Persons are based on the 161,866,867 Common Shares outstanding as of October 25, 2024, as reported by the Issuer in its Quarterly Report on Form 10-Q, which was filed with the SEC on October 31, 2024, and includes 20,991,337 Common Shares issuable upon the exercise of the Warrants held by CM Bermuda. (b) Pursuant to the Investor Rights Agreement (as previously defined in Item 6 of the Original Schedule 13D), the Reporting Persons voting power in the Issuer will be capped at 9.9%, in accordance with the terms described in the Investor Rights Agreement and the Bylaws of the Issuer. The Reporting Persons have sole voting and dispositive power over the Common Shares up to the cap. (c) Except as set forth in this Schedule 13D, none of the Reporting Persons has effected any transaction in the past 60 days in Common Shares or Warrants. (d) None. (e) Not applicable. Item6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer. The information contained in Item 6 of the Original Schedule 13D is hereby amended and supplemented by adding the following information: Pledge and Security Agreement On June 15, 2021, CM Bermuda entered into a Pledge and Security Agreement (the Pledge Agreement), with China Construction Bank Corporation, Shanghai Branch (the Security Trustee), in connection with that certain existing Facility Agreement, dated as of November 14, 2016 (as amended, the Facility), by and among CM Bermuda, the Export-Import Bank of China, Shanghai Branch, the Security Trustee, Industrial and Commercial Bank of China, Shanghai Branch Business Department, and Bank of Communications Co.,

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: November 22, 2024 CMIG INTERNATIONAL HOLDING PTE. LTD. By: /s/ Saw Meng Tee Name: Saw Meng Tee Title: Director CM BERMUDA LIMITED By: /s/ Li Hang, Cheryl Name: Li Hang, Cheryl Title: Director 6

View Full Filing

View this SC 13D/A filing on SEC EDGAR