Company: NXDT
Filing Date: 2025-04-23
Form Type: S-4/A
Source: 0001437749-25-012810
Chunk: 15

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-04-23
Form: S-4/A
Chunk 15
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organization under U.S. federal income tax laws. We expect that U.S. shareholders of Old NXDT will not recognize any gain or loss for U.S. federal income tax purposes upon the exchange of their shares of Old NXDT for shares of New Stock. However, the tax consequences to you will depend on your own situation. You are urged to consult your own tax advisors concerning the specific tax consequences of the Conversion to you, including any state, local or foreign tax consequences of the Conversion. See “Material U.S. Federal Income Tax Considerations.”

Accounting Treatment

The Conversion will have no effect for accounting purposes.

Risk Factors

Before voting on any of the proposals described in the notice of annual meeting, you should carefully consider all of the information contained in this proxy statement/prospectus, as well as the specific factors under the heading “Risk Factors” beginning on page 12 of this proxy statement/prospectus. See the section titled “Where You Can Find More Information” for more information about the SEC filings incorporated by reference in this proxy statement/prospectus.

Recommendation of the Board

Old NXDT’s trustees believe that each proposal is advisable and in the best interest of Old NXDT and its shareholders and unanimously recommend that you vote “FOR” each of the election of the seven nominees to serve as trustees until the 2026 annual meeting of shareholders, the approval, on an advisory basis, of the compensation of our named executive officers, the Conversion Proposal, the approval of the A&R 2023 Plan, the approval of the issuance of Old Common Shares or, if the Conversion is completed, New Common Stock, to the Adviser as payment of fees under the Advisory Agreement, which may exceed five percent of the common equity or the voting power of Old NXDT or New NXDT, as applicable, prior to such issuance and the ratification of the appointment of KPMG as our independent registered public accounting firm for 2025.

Date, Time, Place and Purpose of Annual Meeting

The Annual Meeting will be held virtually on June 10, 2025, at 10:30 a.m. Central Time, to consider and vote upon the proposals detailed herein.

Shareholders Entitled to Vote

The Board has fixed the close of business on March 31, 2025 as the record date for the determination of shareholders entitled to receive notice of, and to vote at, the Annual Meeting. As of the close of business on March 31, 2025, there were 44,517,013