Company: NREF
Filing Date: 2025-10-01
Form Type: 424B5
Source: 0001437749-25-030192
Chunk: 0

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-10-01
Form: 424B5
Chunk 0
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Filed Pursuant to Rule 424(b)(5)
Registration No. 333-276177

AMENDMENT NO. 1 TO

PROSPECTUS SUPPLEMENT DATED MARCH 14, 2025

(To Prospectus dated December 29, 2023)

<div align='center'>NexPoint Real Estate Finance, Inc.

9.00% Series B Cumulative Redeemable Preferred Stock

(Liquidation Preference $25.00 per share of Series B Cumulative Redeemable Preferred Stock)

Maximum of 3,482,858 Shares</div>

This Amendment No. 1 (the “Prospectus Supplement”) amends and supplements the information in the prospectus supplement dated March 14, 2025 (the “Prior Prospectus Supplement”). This Prospectus Supplement amends and/or supplements only those sections of the Prior Prospectus Supplement listed in this Prospectus Supplement; all other sections of the Prior Prospectus Supplement remain unchanged. This Prospectus Supplement should be read in conjunction with the Prior Prospectus Supplement and the accompanying prospectus, dated December 29, 2023 (the "Prospectus"), and is qualified by reference thereto, except to the extent that the information herein amends or supersedes the information contained in the Prospectus and the Prior Prospectus Supplement. This Prospectus Supplement is not complete without, and may only be delivered or utilized in connection with, the Prospectus and Prior Prospectus Supplement, and any future amendments or supplements thereto.

On November 2, 2023, we filed with the Securities and Exchange Commission (the “SEC”) a prospectus supplement relating to the issuance and sale of a maximum of 16,000,000 shares of our 9.00% Series B Cumulative Redeemable Preferred Stock, par value $0.01 per share (our “Series B Preferred Stock”), at a public offering price of $25.00 per share. The sale of our Series B Preferred Stock was registered pursuant to our registration statement on Form S-3 (Registration Statement No. 333-263300) (the “2022 Registration Statement”), which was declared effective on March 14, 2022. In accordance with SEC rules, the 2022 Registration Statement expired on March 14, 2025, the three-year anniversary of the date on which it was declared effective. We filed the Prior Prospectus Supplement to move the Series B Preferred Stock offering to our registration statement on Form S-3 (File No