Company: NREF
Filing Date: 2025-10-01
Form Type: 424B5
Source: 0001437749-25-030192
Chunk: 12

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-10-01
Form: 424B5
Chunk 12
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 long as such expenses would not cause the cumulative selling commissions, dealer manager fee, permissible forms of non-cash compensation, all other forms of underwriting compensation, and issuer organization and offering expenses to exceed 15.0% of the aggregate gross offering proceeds of this offering (“FINRA’s 15.0% cap”) pursuant to FINRA Rule 2310(b)(4)(B)(i).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |

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We intend to contribute the net proceeds from the issuance of sales of our Series B Preferred Stock to our OP in exchange for Series B Preferred Units. Our OP intends to use the net proceeds contributed by us to repay the Raymond James Loan (as defined below) and for general corporate purposes, which may include funding investments and repaying amounts outstanding under our debt obligations.

On May 20, 2024, the OP entered into a loan agreement with Raymond James Bank, N.A. (“Raymond James Bank”), as lender, providing for a loan in the aggregate principal amount of $75,000,000 (the “Raymond James Loan”). The Raymond James Loan bears interest at term secured overnight financing rate plus 6.50%, is interest only during the term of the loan and matures on November 20, 2025 pursuant to the Company’s exercise of its extension option. The Raymond James Loan is secured by certain equity interests held indirectly by the OP and is guaranteed by the Company. Pursuant to the Raymond James Loan, the OP must pay to Raymond James Bank 100% of the net capital proceeds of any capital event, including common and preferred equity issuances, to permanently reduce the then-outstanding principal of the Raymond James Loan. The Raymond James Loan contains customary events of default, including defaults in the payment of principal or interest, defaults in compliance with the covenants contained therein, defaults in payments under any other security interest, and bankruptcy or other insolvency events. As of June 30, 2025, the outstanding balance of the Raymond James Loan was $58.4 million. The Company used the proceeds of the Raymond James Loan to fund additional investments pursuant to the Company’s business plan.

Our OP may invest the net proceeds contributed by us in interest-bearing accounts and short-term, interest-bearing securities, or in any other manner that is consistent with our intention to qualify for taxation as a REIT and maintain our exclusion from registration under the Investment Company Act.

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DESCRIPTION OF SERIES B PREFERRED STOCK