Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 102

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 102
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a third party from making an acquisition proposal for the company, or of delaying, deferring or preventing a change of control of the
company, under circumstances that otherwise could provide the holders of our common stock and/or Series B Redeemable Preferred Stock
with the opportunity for liquidity or the opportunity to realize a premium over the then-current market price or that stockholders may
otherwise believe is in their best interests.

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A “Change of Control”
is when after the initial issuance of the Series B Redeemable Preferred Stock any of the following has occurred and is continuing:

In
addition, if we experience a Change of Control, there can be no assurance that we would have sufficient financial resources available
to satisfy our obligations to redeem the Series B Redeemable Preferred Stock, and any guarantees or indebtedness that may be required
to be repaid or repurchased as a result of such event. Our failure to redeem the Series B Redeemable Preferred Stock could have
material adverse consequences for us and the holders of the Series B Redeemable Preferred Stock.

We established the offering price for the Series B Redeemable Preferred Stock pursuant to negotiations among us and our affiliated dealer manager; as a result, the actual value of an investment in the Series B Redeemable Preferred Stock may be substantially less than the amount paid.

The
selling price of the Series B Redeemable Preferred Stock was determined pursuant to negotiations among us and the dealer
manager, which is an affiliate of Bluerock, based upon the following primary factors at the time of the offering: the economic
conditions in and future prospects for the industry in which we compete; our prospects for future earnings; an assessment of our
management; the state of our development; the prevailing condition of the equity securities market; the state of the market for
non-traded REIT securities; and market valuations of public companies considered comparable to our Company. Because the offering
price is not based upon any independent valuation, the offering price is not indicative of the proceeds that an investor in the
Series B Redeemable Preferred Stock would receive upon liquidation.

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Your percentage of ownership may become diluted if we issue new shares of stock or other securities, and issuances of additional preferred stock or other securities by us may further subordinate the rights of the holders of our common stock (which you may become upon receipt of redemption payments in shares of our Class A common stock for any of your shares of Series