Company: NXDT
Filing Date: 2025-04-23
Form Type: S-4/A
Source: 0001437749-25-012810
Chunk: 220

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-04-23
Form: S-4/A
Chunk 220
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| ● | the number of shares of Series B Preferred Stock to be redeemed, if fewer than all, or the method for determining such number; |

| ● | that dividends on the New Series B Preferred Stock to be redeemed will cease to accrue on such redemption date; |

| ● | if a redemption at New NXDT’s option, that the New Series B Preferred Stock is being redeemed pursuant to New NXDT’s option; |

| ● | if a redemption in connection with a Change of Control, that the New Series B Preferred Stock is being redeemed pursuant to New NXDT’s option in connection with the occurrence of a Change of Control and a brief description of the transaction or transactions constituting such Change of Control; and |

| ● | any conditions to the redemption. |

Rights Following Conversion or Redemption

If New NXDT (i) has received a notice of conversion and (ii) has given irrevocable instructions to issue such New Common Stock, then from and after the conversion date, those shares of New Series B Preferred Stock will be treated as no longer being outstanding, no further dividends will accrue and all other rights of the holders of those shares of New Series B Preferred Stock will terminate. The holders of those shares of New Series B Preferred Stock will retain their right to receive New Common Stock at the conversion rate for their shares and an amount equal to all accrued but unpaid cash dividends, if any, to but not including the conversion date, without interest.

If New NXDT (i) has given or received a notice of redemption, (ii) (1) if the New Series B Preferred Stock will be redeemed in cash, has set apart sufficient funds for the redemption for the benefit of the holders of the New Series B Preferred Stock called for redemption or (2) if the New Series B Preferred Stock will be redeemed with New Common Stock, have instructed the transfer agent in writing that the New Series B Preferred Stock will be redeemed in New Common Stock and (iii) have given irrevocable instructions to pay or issue the redemption price, then from and after the redemption date, those shares of New Series B Preferred Stock will be treated as no longer being outstanding, no further dividends will accrue and all other rights of the holders of those shares of New Series B Preferred Stock will terminate. The holders of those shares of New Series B Preferred Stock will retain their right to receive the redemption price for their shares and an amount equal to all accrued but unpaid cash dividends, if any, to but