SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
PXRE Group Ltd.
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(Exact name of registrant as specified in its charter)
April 5, 2002
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Date of Report (Date of earliest event reported)
Bermuda 1-15259 98-0214717
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(State or other juris- (Commission (I.R.S. Employer
diction of incorporation) File Number) Identification No.)
12 Church Street, Suite 231, Hamilton HM 11, Bermuda
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(Address of principal executive offices) (Zip Code)
(441) 296-5858
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(Registrant's telephone number, including area code)
Item 5. Other Events.
On April 4, 2002, PXRE Group Ltd. issued a press release announcing its
completion of a $150 million equity investment by Capital Z Financial Services
Fund II, L.P., Reservoir Capital Partners, L.P., and Richard Rainwater. A copy
of the press release is attached to this Form 8-K as Exhibit 99.1 and is
incorporated herein by reference. In connection with the closing of the
transaction, the parties executed an Investment Agreement, a copy of which
is attached to this Form 8-K as Exhibit 99.2.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) The following exhibits are filed with this report:
99.1 Press release of PXRE Group Ltd., dated
April 4, 2002.
99.2 Investment Agreement, dated as of
April 4, 2002, between PXRE Group
Ltd., and each of Capital Z
Financial Services Fund II, L.P.,
Capital Z Financial Services Private
Fund II, L.P., Reservoir Capital
Partners, L.P., Reservoir Capital
Master Fund, L.P., RER Reinsurance
Holdings, L.P. and Robert Stavis.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
PXRE GROUP LTD.
Dated: April 8, 2002 By: /s/ Jeffrey L. Radke
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Jeffrey L. Radke
EXHIBIT INDEX
Exhibit No. Exhibit Page
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99.1 Press release of PXRE Group Ltd., dated April 4, 2002.
99.2 Investment Agreement, dated as of April 4, 2002, between
PXRE Group Ltd., and each of Capital Z Financial Services
Fund II, L.P., Capital Z Financial Services Private Fund II,
L.P., Reservoir Capital Partners, L.P., Reservoir Capital
Master Fund L.P., RER Reinsurance Holdings, L.P. and
Robert Stavis.