Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 637

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 637
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 without the vote of the holders of the Series A Preferred Shares or any other shares of the Trust, may amend the provisions of this Statement of Preferences 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 Series A Preferred Shares.

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17

<div align='center'>I-413</div>

IN WITNESS WHEREOF, NexPoint Strategic Opportunities Fund has caused this Statement of Preferences to be signed in its name and on its behalf by a duly authorized officer, who acknowledges said instrument to be the statutory trust act of the Trust, and states that, to the best of such officer’s knowledge, information and belief under penalty of perjury, the matters and facts herein set forth with respect to approval are true in all material respects, as of December 15, 2020.

By:

Name: Lauren Thedford Title: Secretary

Attest,

Name: Dustin Norris

Title: Executive Vice President

<div align='center'>I-414</div>

Exhibit 4.2

<div align='center'>DESCRIPTION OF THE REGISTRANT’S SECURITIES
REGISTERED PURSUANT TO SECTION 12 OF THE
SECURITIES EXCHANGE ACT OF 1934</div>

The following description summarizes the material provisions of the shares of beneficial interests of NexPoint Diversified Real Estate Trust (the“Company”,“we”,“our”) registered pursuant to Section 12 of the Securities Exchange Act of 1934, as amended (the“Exchange Act”). This description is not complete and is subject to, and is qualified in its entirety by reference to, our restated certificate of trust, agreement and declaration of trust (the“Declaration”), statement of preferences (the“Statement of Preferences”and, together with the Declaration, the“Governing Instrument”) designating the 5.50% Series A Cumulative Preferred Shares (the“Series A Preferred Shares”) and bylaws (together with the Governing Instrument, the“Governing Documents”) and applicable provisions of Delaware law, including the Delaware Statutory Trust Act (the“DSTA”).

Authorized Beneficial Interests

The Company is authorized to issue an unlimited number of its shares of beneficial interest, or capital shares, in multiple classes and series thereof as determined from time to time by the Board of Trustees (the “Board”). The Company’s authorized