Company: BHM
Filing Date: 2025-04-09
Form Type: 424B3
Source: 0001104659-25-033384
Chunk: 81

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-09
Form: 424B3
Chunk 81
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 Partnership. If our Operating Partnership
fails to operate profitably and to generate sufficient cash from operations (and the operations of its subsidiaries), we may not be able
to pay dividends on the Series A Redeemable Preferred Stock. Furthermore, any new shares of preferred stock on parity with any such
series of preferred stock will substantially increase the cash required to continue to pay cash dividends at stated levels. Any common
stock or preferred stock that may be issued in the future to finance acquisitions, upon exercise of stock options or otherwise, would
have a similar effect.

Your interests in our Series A Redeemable Preferred Stock could be subordinated and/or diluted by the incurrence of additional debt, the issuance of additional shares of preferred stock, including additional shares of Series A Redeemable Preferred Stock, and by other transactions.

As
of December 31, 2024, our total indebtedness was approximately $381.6 million, which includes $121.0 million outstanding under our
revolving credit facilities. We may incur significant additional debt in the future. The Series A Redeemable Preferred Stock is subordinate
to all of our existing and future debt and liabilities and those of our subsidiaries. Our future debt may include restrictions on our
ability to pay dividends to preferred stockholders in the event of a default under the debt facilities or under other circumstances. In
addition, our charter currently authorizes the issuance of up to 250,000,000 shares of preferred stock in one or more classes or series,
of which 30,000,000 have been classified as shares of Series A Redeemable Preferred Stock. As of December 31, 2024, we had issued
and outstanding 4,628,681 shares of Series A Redeemable Preferred Stock. The issuance of additional preferred stock on parity with
or senior to the Series A Redeemable Preferred Stock or any other class or series of preferred stock would dilute the interests of
the holders of shares of preferred stock of the applicable class or series, and any issuance of preferred stock senior to the Series A
Redeemable Preferred Stock or any other class or series of preferred stock, or any issuance of additional indebtedness, could affect our
ability to pay dividends on, redeem or pay the liquidation preference on any or all of the foregoing classes or series of preferred stock.
We may issue preferred stock on parity with the Series A Redeemable Preferred Stock without the consent of the holders of shares
of Series A Redeemable Preferred Stock.