Company: NXDT
Filing Date: 2025-04-11
Form Type: S-4
Source: 0001437749-25-011826
Chunk: 136

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-04-11
Form: S-4
Chunk 136
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 business or (ii) the corporation’s total assets would be less than the sum of its total liabilities plus, unless the charter permits otherwise, any amount required to be paid to holders of preferred stock in the event of a liquidation of the corporation. Notwithstanding clause (ii) in the immediately preceding sentence, a corporation may make a dividend or other distribution from: (a) the net earnings of the corporation for the fiscal year in which the dividend or other distribution is made; (b) the net earnings of the corporation for the preceding fiscal year; or (c) the sum of the net earnings of the corporation for the preceding eight fiscal quarters. 
 The New NXDT Charter provides that, subject to the provisions of any class or series of shares of New NXDT’s stock, the board of directors may authorize New NXDT to declare and pay to stockholders such dividends or other distributions in cash or other assets or in securities of New NXDT, including shares of one class or series of stock of New NXDT payable to holders of shares of another class or series of stock of New NXDT, or from any other source as the board of directors in its sole and absolute discretion may determine.                                                                                                                                                                                                                                                                                                                                                              |

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| Old NXDT                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |     | New NXDT                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |     | The New NXDT Charter provides that holders of the New Series A Preferred Stock shall be entitled to receive, when, as and if declared by, or under authority granted by, the board of directors, out of funds legally available therefor, cumulative cash dividends and distributions at a rate of 5.50% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months) of the liquidation preference of the New Preferred Stock, payable quarterly.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
 The New NXDT Charter provides that holders of the New Series B Preferred Stock shall be entitled to receive, when, as and if declared by, or under authority granted by, the board of directors, out of funds legally available therefor, cumulative cash dividends and distributions at a rate of 9.00% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months) of the $25.00 stated value of the New Series B Preferred Stock, subject to appropriate adjustment in relation to any recapitalizations, stock