Company: NREF
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001437749-25-033056
Chunk: 0

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-11-04
Form: 424B5
Chunk 0
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Filed Pursuant to Rule 424(b)(5)
Registration No. 333-276177

PROSPECTUS SUPPLEMENT

(To Prospectus dated December 29, 2023)

<div align='center'>NexPoint Real Estate Finance, Inc.

8.00% Series C Cumulative Redeemable Preferred Stock

(Stated Value $25.00 per share of Series C Cumulative Redeemable Preferred Stock)

Maximum of 8,000,000 Shares</div>

This prospectus supplement and the accompanying prospectus relate to the issuance and sale of a maximum of 8,000,000 shares of our 8.00% Series C Cumulative Redeemable Preferred Stock, par value $0.01 per share (our “Series C Preferred Stock”), at a public offering price of $25.00 per share in this offering. The initial closing of the offering is expected to occur on or about December 5, 2025. To the extent a participating broker-dealer in this offering reduces its selling commissions below 7.0%, the public offering price per share of Series C Preferred Stock will be decreased by an amount equal to such reduction. The Series C Preferred Stock will rank senior to our common stock and pari passu with our 8.50% Series A Cumulative Redeemable Preferred Stock, par value $0.01 per share (our “Series A Preferred Stock”) and our 9.00% Series B Cumulative Redeemable Preferred Stock, par value $0.01 per share (our “Series B Preferred Stock”), with respect to payment of dividends and distribution of amounts upon liquidation, dissolution or winding up. Holders of our Series C Preferred Stock will have no voting rights except as set forth in the Articles Supplementary establishing the Series C Preferred Stock, including an exclusive voting right on any amendment to our charter in a manner that materially and adversely affects the rights of the holders of Series C Preferred Stock. This prospectus supplement also covers the shares of our common stock that may be issuable upon redemption of the Series C Preferred Stock sold pursuant to this offering.

We are organized and conduct our operations to qualify as a real estate investment trust (a “REIT”) for federal income tax purposes. To assist us in qualifying as a REIT, among other purposes, our charter generally limits any person from beneficially or constructively owning more than 6.2% in value or number of shares, whichever is more restrictive, of the outstanding shares of our common stock or