Company: NXDT
Filing Date: 2025-04-11
Form Type: S-4
Source: 0001437749-25-011826
Chunk: 222

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-04-11
Form: S-4
Chunk 222
---
 time have been converted, redeemed, repurchased or otherwise acquired by New NXDT will, after such conversion, redemption or acquisition, have the status of authorized but unissued New Series B Preferred Stock.

Voting Rights

Holders of shares of New Series B Preferred Stock have no voting rights, except as set forth in the New NXDT Charter. So long as any shares of New Series B Preferred Stock are outstanding, New NXDT will not:

(a) authorize or create, or increase the authorized or issued amount of, any class or series of capital stock expressly designated as ranking senior to the New Series B Preferred Stock as to distribution rights and rights upon New NXDT’s liquidation, dissolution, termination, cancellation or winding up, or reclassify any authorized shares of capital stock into any such stock, or create, authorize or issue any obligations or security convertible into or evidencing the right to purchase any such stock, without the affirmative vote of the holders of at least two-thirds of the then outstanding shares of New Series B Preferred Stock and all other classes or series of stock ranking on a parity with the New Series B Preferred Stock as to the payment of dividends and the distribution of assets upon liquidation upon which like voting rights have been conferred and are exercisable, voting together as a single class; or

<div align='center'>146</div>

(b) amend, alter or repeal the provisions of the New NXDT Charter, whether by merger, consolidation, conversion or otherwise, in each case in such a way that would materially and adversely affect any right, preference, privilege or voting power of the New Series B Preferred Stock or the holders thereof without the affirmative vote of the holders of at least two-thirds of the outstanding New Series B Preferred Stock at the time (voting as a separate class).

Notwithstanding the preceding sentence, with respect to the occurrence of a merger, consolidation, or other event, as such terms are defined in the NXDT Charter, so long as any shares of New Series B Preferred Stock remain outstanding with the terms thereof materially unchanged or the holders of New Series B Preferred Stock receive shares of, or options, warrants or rights to purchase or subscribe for shares of, capital stock or other securities with rights, preferences, privileges and voting powers substantially similar, taken as a whole, to those of the New Series B Preferred Stock, then the occurrence of any such event will not be deemed to materially and adversely affect the rights, privileges or voting powers of the shares of New Series B Preferred Stock or the holders thereof. In addition, any