Company: BHM
Filing Date: 2025-03-28
Form Type: POS AM
Source: 0001104659-25-029225
Chunk: 272

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-28
Form: POS AM
Chunk 272
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 transaction, and (2) expressly excluding any such transaction preceded by our company’s acquisition of                        
 the capital stock of another company for cash, securities or other property, whether directly or indirectly through one of our subsidiaries, 
 as a precursor to such transaction; or                                                                                                       |

| · | Continuing Directors cease to constitute at least a majority of our board of directors. |

For purposes of the Series A
Redeemable Preferred Stock, “Continuing Director” means a director who either was a member of our board of directors on October 6,
2022 or who becomes a member of our board of directors subsequent to that date and whose appointment, election or nomination for election
by our stockholders was duly approved by a majority of the Continuing Directors on our board of directors at the time of such approval,
either by a specific vote or by approval of the proxy statement issued by our company on behalf of our board of directors in which such
individual is named as nominee for director.

Safeguard Policy.On February 6, 2025, we implemented a new Series A Redeemable Preferred Stock Redemption Safeguard Policy
(the “Safeguard Policy”) with respect to our Series A Redeemable Preferred Stock. The Safeguard Policy is applicable
in the event of any redemption of shares of Series A Redeemable Preferred Stock in shares of our Class A common stock rather
than in cash (each, a “Preferred Redemption in Common Stock”). The Safeguard Policy provides that if, within 10 business days
of any such Preferred Redemption in Common Stock, any such shares of Class A common stock are sold at a loss (i.e. a lower price
than the Aggregate Redemption Value), the holder can apply to us for a cash payment to the holder in an amount equal to the difference
between (i) the Aggregate Redemption Value of the Class A common stock so issued, and (ii) the Aggregate Sale Price at
which such shares of Class A common stock were sold, subject to certain conditions and requirements as set forth in the Safeguard
Policy. The Safeguard Policy applies both retroactively, and on a go-forward basis, to holders of our Series A Redeemable Preferred
Stock.

Liquidation Preference. Upon any voluntary or involuntary liquidation, dissolution or winding-up of our affairs, before any distribution
or payment is made to holders of our common stock or any other class or series of capital stock ranking junior to our shares of Series A
Redeemable Preferred Stock, the holders of shares of Series