Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 90

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 90
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 of Maryland. Under
applicable Maryland law, a Maryland corporation generally may not make a distribution (including a dividend or redemption) if, after giving
effect to the distribution, the corporation would not be able to pay its debts as the debts become due in the usual course of business,
or the corporation’s total assets would be less than the sum of its total liabilities plus, unless the corporation’s charter
provides otherwise, the amount that would be needed, if the corporation were dissolved at the time of the distribution, to satisfy the
preferential rights upon dissolution of stockholders whose preferential rights on dissolution are superior to those receiving the distribution.
Accordingly, we generally may not make a distribution on Series B Redeemable Preferred Stock if, after giving effect to the distribution,
we would not be able to pay our debts as they become due in the usual course of business or our total assets would be less than the sum
of our total liabilities plus, unless the terms of such class or series provide otherwise, the amount that would be needed to satisfy
the preferential rights upon dissolution of the holders of shares of any class or series of preferred stock then outstanding, if any,
with preferences senior to those of the Series B Redeemable Preferred Stock. Any dividends or redemption payments may be delayed
or prohibited.

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If our Class A common stock is no longer listed on the NYSE American or another national securities exchange, we will be required to terminate any continuous offering(s) of Series B Redeemable Preferred Stock.

The
Series B Redeemable Preferred Stock are “covered securities” and therefore are not subject to registration under the
state securities, or “Blue Sky,” regulations in the various states in which it may be sold due to its seniority to our Class A
common stock, which is listed on the NYSE American. If our Class A common stock is no longer listed on the NYSE American or another
appropriate exchange, we will be required to register any offering of Series B Redeemable Preferred Stock in any state in which such
offering was subsequently made. This would require the termination of any continuous offering(s) of Series B Redeemable Preferred
Stock and could result in our raising an amount of gross proceeds that is substantially less than the amount of the gross proceeds we
expect to raise if the maximum offering amounts are sold. This would reduce our ability to make additional investments and limit the diversification
of our portfolio.

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