Company: BHM
Filing Date: 2025-10-08
Form Type: S-11
Source: 0001104659-25-097905
Chunk: 304

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-10-08
Form: S-11
Chunk 304
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except solely by virtue of a revocable proxy), would
entitle the acquiror directly or indirectly to exercise or direct the exercise of the voting power in electing directors within one of
the following ranges of voting power:

| · | one-tenth or more, but less than 
 one-third;                       |

| · | one-third or more, but less than 
 a majority; or                   |

| · | a majority or more of all voting 
 power.                           |

Control shares do not include
shares the acquiring person is then entitled to vote as a result of having previously obtained stockholder approval or shares acquired
directly from the corporation. A “control share acquisition” means the acquisition, directly or indirectly, by a person,
of ownership of, or the power to direct the exercise of voting power with respect to, issued and outstanding control shares, subject
to certain exceptions.

A person who has made or
proposes to make a control share acquisition, upon satisfaction of certain conditions (including an undertaking to pay expenses), may
compel our board of directors to call a special meeting of stockholders to be held within 50 days of demand to consider the voting rights
of the shares. If no request for a meeting is made, the corporation may itself present the question at any stockholders meeting.

If voting rights are not
approved at the meeting or if the acquiring person does not deliver an acquiring person statement as required by the statute, then, subject
to certain conditions and limitations, the corporation may redeem any or all of the control shares (except those for which voting rights
have previously been approved) for fair value determined without regard to the absence of voting rights for the control shares, as of
the date of any meeting of stockholders at which the voting rights of such shares are considered and not approved, or, if no such meeting
is held, as of the date of the last control share acquisition by the acquiror. If voting rights for control shares are approved at a
stockholders meeting and the acquiror becomes entitled to vote a majority of the shares entitled to vote, all other stockholders may
exercise appraisal rights. The fair value of the shares as determined for purposes of such appraisal rights may not be less than the
highest price per share paid by the acquiror in the control share acquisition.

The control share acquisition
statute does not apply to (1) shares acquired in a merger, consolidation or share exchange if the corporation is a party to the
transaction, or