Company: NXDT
Filing Date: 2025-06-12
Form Type: S-4
Source: 0001437749-25-020201
Chunk: 1

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-06-12
Form: S-4
Chunk 1
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, 2025 (the “Prior Registration Statement”), relating to among other things an aggregate of (a) 45,601,606 shares of common stock, par value $0.001 per share (the “New Common Stock”) of NexPoint Diversified Real Estate Trust, Inc., a Maryland corporation (“New NXDT”), (b) 3,359,593 shares of 5.50% Series A Cumulative Preferred Stock, par value $0.001 per share, liquidation preference $25.00 per share (“New Series A Preferred Stock”), of New NXDT and (c) 17,500 shares of 9.00% Series B Cumulative Redeemable Preferred Stock, par value $0.001 per share, liquidation preference $25.00 per share (“New Series B Preferred Stock”), of New NXDT into which certain shares of NexPoint Diversified Real Estate Trust, a Delaware statutory trust (“Old NXDT”), will be converted at the effective time of the reincorporation transaction described herein, and (ii) the registration of an aggregate of an additional (a) 298,883 shares of New Common Stock of New NXDT and (b) 49,265 shares of New Series B Preferred Stock of New NXDT into which certain shares of Old NXDT will be converted at the effective time of the reincorporation transaction described herein.

Pursuant to Rule 429 under the Securities Act, this registration statement also constitutes a post-effective amendment to the Prior Registration Statement, and such post-effective amendment shall hereafter become effective concurrently with the effectiveness of this registration statement in accordance with Section 8(c) of the Securities Act.

THE INFORMATION IN THIS PROSPECTUS IS NOT COMPLETE AND MAY BE CHANGED. WE MAY NOT SELL THESE SECURITIES UNTIL THE REGISTRATION STATEMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION IS EFFECTIVE. THIS PROSPECTUS IS NOT AN OFFER TO SELL THESE SECURITIES NOR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY JURISDICTION WHERE THE OFFER AND SALE IS NOT PERMITTED.

<div align='center'>PRELIMINARY PROSPECTUS DATED JUNE 12, 2025, SUBJECT TO COMPLETION

NEXPOINT DIVERSIFIED REAL ESTATE TRUST

45,900,489.52 Shares of Common Stock
3,359,593 Shares of 5.50% Series A Cum