Company: NREF
Filing Date: 2025-03-14
Form Type: 424B5
Source: 0001437749-25-007771
Chunk: 46

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-03-14
Form: 424B5
Chunk 46
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 and Transfer” in the accompanying prospectus apply to ownership and transfer of shares of Series B Preferred Stock pursuant to Article VII of our charter, under which, among other things, shares of Series B Preferred Stock owned by a stockholder in excess of an ownership limit will be transferred to a charitable trust and may be purchased by us under certain circumstances. Our Board may, in its sole discretion, exempt a person from an ownership limit, as described in “Description of Capital Stock—Restrictions on Ownership and Transfer” in the accompanying prospectus.

Ownership limits also apply to shares of our common stock. See “Description of Capital Stock—Restrictions on Ownership and Transfer” in the accompanying prospectus. Notwithstanding any other provision of the Series B Preferred Stock, no holder of shares of the Series B Preferred Stock is entitled to receive shares of our common stock upon the redemption of the holder’s Series B Preferred Stock to the extent that receipt of our common stock would cause such holder or any other person to exceed the ownership limits contained in our charter.

Preemptive Rights

No holders of Series B Preferred Stock will, as the holders thereof, have any preemptive rights to purchase or subscribe for our common stock or any other security of our Company.

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SUPPLEMENTAL MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS</div>

This summary supplements the discussion contained under the caption“Material U.S. Federal Income Tax Considerations”in the accompanying prospectus and should be read in conjunction therewith. This summary is for general information purposes only and is not tax advice. This discussion does not address all aspects of taxation that may be relevant to particular holders of our Series B Preferred Stock in light of their personal investment or tax circumstances.

We urge prospective investors to consult their own tax advisors regarding the specific tax consequences to them of the acquisition, ownership and disposition of our Series B Preferred Stock and of our election to be taxed as a REIT. Specifically, prospective investors should consult their own tax advisors regarding the federal, state, local, foreign and other tax consequences of such acquisition, ownership, disposition and election and regarding potential changes in applicable tax laws.

Redemption of Series B Preferred Stock

A redemption of Series B Preferred Stock will be treated under Section 302 of the Code as a distribution that is taxable as dividend income (to the extent of our current and accumulated earnings and profits), unless the redemption satisfies an exception found in Section 302(b) of the Code enabling the redemption to be treated as a sale