Company: NXDT
Filing Date: 2025-06-12
Form Type: S-4
Source: 0001437749-25-020201
Chunk: 118

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-06-12
Form: S-4
Chunk 118
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 per calendar month; (ii) no more than 5% of the outstanding New Series B Preferred Stock will be redeemed per fiscal quarter; and (iii) no more than 20% of the outstanding New Series B Preferred Stock will be redeemed per fiscal year.

Redemptions pursuant to an optional redemption by New NXDT or in connection with a Change of Control (described below) will not count toward the 2%/5%/20% limits applied to optional redemptions by holders of the New Series B Preferred Stock. Optional redemptions following death or qualifying disability of a holder (described below) will count toward the 2%/5%/20% limits but will not be subject to such limits.

If, after applying these redemption limits, a holder would own less than one share of New Series B Preferred Stock, all of such holder’s New Series B Preferred Stock will be redeemed. Otherwise, all redemption amounts will be rounded down such that after giving effect to any redemption, no holder is left owning a fractional share. For example, if after applying the redemption limits, an investor would own 2.5 shares, New NXDT will redeem 0.5 fewer shares from such holder so that the holder is left owning three shares. If, after applying these redemption limits, the number of shares of New Series B Preferred Stock to be redeemed is less than the number of shares of New Series B Preferred Stock submitted for redemption by a holder, the excess New Series B Preferred Stock will remain subject to redemption in future periods until the earlier of (i) all New Series B Preferred Stock submitted by such holder for redemption have been redeemed, or (ii) such holder delivers to us a written notice of withdrawal stating the number of withdrawn shares of New Series B Preferred Stock and the number of shares of New Series B Preferred Stock, if any, which remain subject to redemption.

Redemption of the New Series B Preferred Stock will be made at the option of the holder upon delivery by the holder of a duly completed notice to New NXDT or through the procedures of DTC, which will be irrevocable except upon written consent of New NXDT, in compliance with Stated Transfer Procedures. The redemption date for shares to be redeemed at the option of a holder will be a date selected by New NXDT in its discretion that is within 45 days of the date New NXDT receives a redemption notice from the holder.

Optional Redemption Following Death or Qualifying Disability of a Holder

Subject to certain restrictions, New NXDT will redeem upon