Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 255

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 255
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HT (which will subsequently be converted into common shares of NXDT), or (b) have all such Unitholder’s equity interests in the Trust redeemed for cash by the Trust in consideration of payment of the Unit Redemption Price.

“New NHT”means NexPoint Hospitality Trust, Inc.

“Meeting”means such meeting or meetings of Unitholders, including any adjournment or postponement thereof, convened to consider, and if deemed advisable approve, the Transaction Resolution;

“Mergers”has the meaning ascribed thereto in the Merger Agreement;

“Merger Agreement”means the agreement and plan of merger dated November 22, 2024 by and among the Trust, NXDT, NexPoint Diversified Real Estate Trust Operating Partnership, L.P., NXDT Intermediary, LLC, NXDT Hospitality Holdco, LLC, NHT Intermediary, LLC, NHT Holdings, LLC and NHT Operating Partnership, LLC, with respect to the Transaction, as may be amended from time to time in accordance with its terms;

“NXDT”means NexPoint Diversified Real Estate Trust;

“Registered Unitholders”means Unitholders whose names are on the records of the Trust as the registered holders of Units;

“Reorganization”has the meaning ascribed thereto in the Merger Agreement;

“Reorganization Effective Time”has the meaning ascribed thereto in the Merger Agreement;

“Transaction”means the Reorganization and the Mergers as set forth in the Merger Agreement.

“Transaction Resolution”means the resolutions approving certain transactions contemplated in the Merger Agreement., including, without limitation, the Reorganization and the Mergers.

“Unit Redemption Price”means US$0.36 per Unit.

Paragraph (z) of Section 4.2 Specific Powers and Authorities shall be added and read as follow:

| (z) | to make any filings, execute and deliver any documents, instruments or agreements, including, for greater certainty, executing a power of attorney, or take any action in relation to the Final Redemption, the Reorganization, the Merger Agreement and the termination of the Trust. |

<div align='center'>D-2</div>

Section 7.24Completion of the Reorganization shall be added and read as follows:

Section 7.24 Completion of the Reorganization

| (a) | Registered Unitholders that have either: (i) completed and submitted a Letter of Transmittal and Election and elected to receive shares of common stock