Company: BHM
Filing Date: 2025-04-09
Form Type: 424B3
Source: 0001104659-25-033384
Chunk: 131

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-09
Form: 424B3
Chunk 131
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 Redeemable Preferred Stock

During the year ended December 31,
2024, we issued 4,198,566 shares of 6.0% Series A Redeemable Preferred Stock (the “Series A Preferred Stock”) at
$25.00 per share (the “Stated Value”) under a continuous registered offering with net proceeds of approximately $92.9 million
after (i) commissions, dealer manager fees and sales discounts of approximately $10.6 million, and (ii) costs related to establishing
the offering of Series A Preferred Stock of approximately $1.5 million. As of December 31, 2024, we had issued a total of 4,635,241
shares of Series A Preferred Stock with total net proceeds of approximately $101.1 million after commissions, dealer manager fees,
sales discounts and offering costs. During the year ended December 31, 2024, we, at the request of holders, redeemed 6,560 shares
of Series A Preferred Stock through the issuance of 9,103 shares of Class A common stock.

In November 2023, we
announced the payment of additional contingent special daily dividends with respect to our Series A Preferred Stock. This dividend
was aggregated with the regular monthly dividend so as to effect a dividend rate of two percent over the average 10-Year Daily Treasury
Par Yield Curve Rate with a floor of 6% annually, calculated and paid monthly. Commencing in November 2023, the Series A Preferred
Stock additional contingent special dividend was declared for each month for which the Board declared the regular monthly dividend of
$0.125 per outstanding share of Series A Preferred Stock. In May 2024, we announced the payment of an enhanced special dividend
replacing the additional contingent special daily dividend. The enhanced special dividend is aggregated with the regular monthly dividend
so as to effect a dividend rate of the average one-month Term SOFR rate plus two percent, subject to a 6.5% minimum and an 8.5% maximum
annual rate, calculated and paid monthly. Commencing in May 2024, the Series A Preferred enhanced special dividend was declared
for each month for which the Board declared the regular monthly dividend of $0.125 per outstanding share of Series A Preferred Stock.

Stockholders’ Equity

Our total stockholders’
equity decreased $8.0 million from $147.4 million as of December 31, 2023 to $139.4 million as of