Company: NXDT
Filing Date: 2025-06-12
Form Type: S-4
Source: 0001437749-25-020201
Chunk: 107

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-06-12
Form: S-4
Chunk 107
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 to a separate vote of the requisite percentage of New Common Stock and preferred stock, including New Series A Preferred Stock, voting together as a single class, necessary to authorize the action in question. An increase in the number of authorized shares of preferred stock pursuant to the New NXDT Charter and New NXDT Bylaws or the issuance of additional shares of any series of preferred stock (including New Series A Preferred Stock), pursuant to the New NXDT Charter and New NXDT Bylaws will not in and of itself be considered to adversely affect the rights and preferences of any series of preferred stock, including the holders of shares of New Series A Preferred Stock, by virtue of their acquisition of shares of New Series A Preferred Stock, will be deemed to have authorized such issuances by New NXDT’s board of directors.

New NXDT’s board of directors may, to the extent permitted by Maryland law, without any further action by the stockholders, amend, alter, add to or repeal any provision of the terms and conditions of the New NXDT Charter governing the New Series A Preferred Stock pursuant to the guidelines of a rating agency providing a rating for the New Series A Preferred Stock at the request of New NXDT (the “Rating Agency”) or add covenants and other obligations of New NXDT to such terms and conditions, if the applicable Rating Agency confirms that such amendments or modifications are necessary to prevent a reduction in, or the withdrawal of, a rating of the New Series A Preferred Stock and such amendments and modifications do not adversely affect the rights and preferences of and are in the aggregate in the best interests of the holders of the New Series A Preferred Stock (collectively, a “Rating Agency Amendment”).

The New NXDT Charter provides that, to the extent permitted by law, New NXDT’s board of directors or its delegatee, without the vote of the holders of the New Series A Preferred Stock or any other stock of New NXDT, may amend certain provisions of the New NXDT Charter pertaining to the New Series A Preferred Stock to resolve any inconsistency or ambiguity or to remedy any formal defect so long as the amendment does not in the aggregate adversely affect the rights and preferences of the New Series A Preferred Stock.

Restrictions on Ownership and Transfer

The New Series A Preferred Stock constitutes capital stock and, as such, is subject to the restrictions on ownership and transfer set forth in the New NXDT Charter applicable to capital stock. For information regarding restrictions on ownership and transfer of the New Series A Preferred Stock, see “Restrictions on Ownership and Transfer”