Company: NREF
Filing Date: 2025-03-14
Form Type: 424B5
Source: 0001437749-25-007770
Chunk: 9

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-03-14
Form: 424B5
Chunk 9
---
 Stock for six quarterly periods, whether or not consecutive, the holders of Series A Preferred Stock, voting together as a single class with the holders of our Parity Stock (defined below) having similar voting rights will be entitled to vote for the election of two additional directors to serve on our Board until we pay all dividends which we owe on the Series A Preferred Stock. The affirmative vote of the holders of at least two-thirds of the outstanding shares of Series A Preferred Stock, voting together as a single class with the holders of any other class or series of our preferred stock upon which like voting rights have been conferred and are exercisable, is required for us to authorize, create or increase the number of shares of any class or series of our capital stock expressly designated as ranking senior to the Series A Preferred Stock as to distribution rights and rights upon our liquidation, dissolution or winding up. In addition, the affirmative vote of at least two-thirds of the outstanding shares of Series A Preferred Stock (voting as a separate class) is required to amend our charter (including the articles supplementary designating the Series A Preferred Stock and relating to the authorization of additional Series A Preferred Stock) in a manner that materially and adversely affects the rights of the holders of Series A Preferred Stock. 
 Among other things, we may, without any vote of the holders of Series A Preferred Stock, issue additional shares of Series A Preferred Stock and we may authorize and issue additional shares of any class or series of our Junior Stock or on parity with any class or series of capital stock expressly designated as ranking on parity with the Series A Preferred Stock as to distribution rights and rights upon liquidation, dissolution or winding up, including the Series B Preferred Stock, or Parity Stock.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |

<div align='center'>S-4

RISK FACTORS</div>

Investing in our securities involves significant risks. In addition to other information in this prospectus supplement, you should consider the specific risks described in our Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on March 22, 2024, the risk factors described under the caption“Risk Factors,”herein and any risk factors set forth in our other filings with the SEC pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act before making an investment decision. Each of the risks described in these documents could materially and adversely affect our business, financial condition, results of operations and