Company: NXDT
Filing Date: 2025-04-23
Form Type: S-4/A
Source: 0001437749-25-012810
Chunk: 147

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-04-23
Form: S-4/A
Chunk 147
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, including:

| ● | dealers in securities or currencies; |

| ● | traders in securities that elect to use a mark-to-market method of accounting; |

| ● | financial institutions; |

| ● | insurance companies; |

| ● | REITs; |

| ● | regulated investment companies; |

| ● | pension plans or other tax exempt organizations; |

| ● | partnerships or entities treated as partnerships for U.S. federal income tax purposes and investors therein, S corporations or other pass-through entities; |

| ● | persons liable for the alternative minimum tax; |

| ● | persons that hold Old Shares or shares of New Stock, as applicable, that are a hedge, that are hedged against interest rate or currency risks or that are part of a straddle or conversion transaction; |

| ● | persons that purchase or sell Old Shares or New Stock, as applicable, as part of a wash sale for tax purposes; and |

| ● | U.S. shareholders whose functional currency is not the U.S. dollar. |

No ruling on the U.S. federal, state or local tax considerations relevant to the Conversion, our operation or to the purchase, ownership or disposition of New Stock, has been requested from the IRS or other tax authority. No assurance can be given that the IRS would not assert, or that a court would not sustain a position contrary to any of the tax consequences described below.

This summary is based on the Code, existing temporary, proposed and final Treasury regulations promulgated thereunder, current administrative interpretations, practices and rulings, and judicial decisions, all as currently in effect and all of which are subject to differing interpretations. In addition, no assurance can be given that future legislative, judicial or administrative actions or decisions, which may be retroactive in effect, will not affect the accuracy of any statements in this prospectus with respect to the transactions entered into or contemplated prior to the effective date of such changes. No assurance can be given that the IRS would not assert, or that a court of competent jurisdiction would not sustain, a position contrary to any tax consequences described below.

If a partnership or other entity treated as a partnership for U.S. federal income tax purposes holds Old Shares or shares of New Stock, as applicable, the U.S. federal income tax treatment of a partner will generally depend on the status of the partner and the tax treatment of the partnership. A partner in a partnership holding Old Shares or shares of New Stock, as applicable, should consult such partner’s tax advisor with regard to the U.S.