Company: BHM
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001104659-25-026164
Chunk: 223

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 223
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 that exceeds the number of shares of Class C common stock, C-LTIP units, LTIP units, C-OP units and OP units beneficially owned
by such holder. In order to implement this limitation, the number of votes (“Class C Votes”) per share of Class C common stock
beneficially owned by a holder will equal the lesser of: (x) 50 and (y) the quotient of (A) the sum of (1) the number of shares of Class
C common stock beneficially owned by such holder plus(2) the number of C-LTIP units beneficially owned
by such holder plus(3) the number of LTIP units beneficially owned by such holder plus(4) the number of C-OP units beneficially owned by such holder plus(5) the number of OP units beneficially
owned by such holder (each of a share of Class C common stock, a C-LTIP unit, a LTIP unit, a C-OP unit and an OP Unit, a “Class
C Interest”) divided by (B) the number of shares of Class C common stock beneficially owned by
such holder. If any Class C Interest is beneficially owned by more than one holder of Class C common stock and would, in the absence of
this sentence, increase the number of Class C Votes of more than one such holder of Class C common stock by virtue of clause (y) of the
immediately preceding sentence, then such Class C Interest shall only increase the number of Class C Votes of the ultimate beneficial
owner of such Class C Interest that is also such a holder of Class C common stock, and not any other holder of Class C common stock.

Shares
of the Company’s Class C common stock may be converted, or automatically convert, in certain circumstances to shares of the Company’s
Class A common stock on a one-for-one basis. Subject to the preferential rights, if any, of holders of any class or series of the Company’s
stock other than the Company’s Class A common stock and to the provisions of the Company’s charter regarding the restrictions
on the ownership and transfer of stock, the holders of the Company’s Class C common stock will be entitled to receive distributions
authorized by the Company’s Board and declared by the Company out of legally available funds after payment of, or provision for,
full cumulative distributions on and any required redemptions of shares of any series of preferred stock then outstanding.

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