Company: NREF
Filing Date: 2025-03-14
Form Type: 424B5
Source: 0001437749-25-007770
Chunk: 54

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-03-14
Form: 424B5
Chunk 54
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 future indebtedness (including indebtedness convertible into our common stock or preferred stock) and to the indebtedness of our existing and future subsidiaries. |

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| • | Dividend Rights. The shares of our Series B Preferred Stock accrue a cumulative cash dividend at an annual rate of 9.00% on the $25.00 per share liquidation preference. |

| • | Liquidation Rights. Upon any voluntary or involuntary liquidation, dissolution or winding up of our company, before any payment or distribution will be made to holders of our common stock or any other class or series of capital stock ranking junior to our shares of Series B Preferred Stock, the holders of our Series B Preferred Stock are entitled to be paid out of our assets legally available for distribution to our stockholders a liquidation preference in cash or property, at fair market value as determined by our Board, of $25.00 per share, subject to appropriate adjustment in relation to any recapitalizations, stock dividends, stock splits, stock combination, reclassifications or other similar events which affect the Series B Preferred Stock (the “liquidation preference”), plus an amount equal to all accrued and unpaid dividends to, but not including, the date of payment, pari passu with the holders of shares of our Series A Preferred Stock and any other class or series of our capital stock ranking on parity with the Series B Preferred Stock as to the liquidation preference and/or accrued but unpaid dividends they are entitled to receive. |

| • | Redemption Provisions. The shares of our Series B Preferred Stock are not redeemable by the holders thereof prior to the first day of the month following the date of original issuance. On the first day of the month following the date of original issuance, subject to certain redemption limits, holders will have the right to require us to redeem shares of Series B Preferred Stock at a redemption price equal to the liquidation preference less a redemption fee calculated thereon, plus an amount equal to all accrued and unpaid cash dividends to, but not including, the date of redemption. The redemption fee will be equal to: |

| • | Beginning on the first day of the month following the date of original issuance of the shares to be redeemed: 12% of the liquidation preference |

| • | Beginning on the first day of the month following the first anniversary of the date of original issuance of the shares to be redeemed: 9% of the liquidation preference |

| • | Beginning on the first day of the month following the