Company: NXDT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001356115-25-000014
Chunk: 26

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 26
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 March 31, 2025, to shareholders of record on March 24, 2025.During the three months ended March 31, 2024, the Company declared one distribution on its Series A Preferred Shares, in the amount of $0.34375 per share, which was paid on April 1, 2024 to shareholders of record on March 25, 2024.

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Distributions on the Series A Preferred Shares are cumulative from their original issue date at the annual rate of 5.5% of the $25 per share liquidation preference and are payable quarterly on March 31, June 30, September 30, and December 31 of each year, or in each case on the next succeeding business day.Series B Preferred SharesOn January 30, 2025, the Company announced the launch of a continuous public offering (the “Series B Preferred Offering”) of up to 16,000,000 shares of its newly designated 9.00% Series B Cumulative Redeemable Preferred Shares, par value $0.001 per share, liquidation preference $25.00 per share (“Series B Preferred Shares”) at a price to the public of $25.00 per share, for gross proceeds of $400.0 million. As of March 31, 2025, the Company has issued 12,700 Series B Preferred Shares for gross proceeds of $0.3 million before deducting selling commissions and dealer manager fees of approximately $10.0 thousand, and organization and offering costs of approximately $0.1 million. The Company expects that the offering will terminate on the earlier of the date the Company sells all 16,000,000 Series B Preferred Shares in the offering or August 1, 2027 (which is the third anniversary of the effective date of the Company’s registration statement), which may be extended by the Board in its sole discretion. The Board may elect to terminate the Series B Preferred Offering at any time.           During the three months ended March 31, 2025, the Company declared two distributions on the Series B Preferred Shares, each in the amount of $0.1875 per share, which were paid to holders of Series B Preferred Shares on March 5, 2025 and April 7, 2025 to holders of record of Series B Preferred Shares on February 25, 2025 and March 25, 2025, respectively. Distributions on the Series B Preferred Shares are