Company: NXDT
Filing Date: 2025-01-30
Form Type: 424B5
Source: 0001437749-25-002263
Chunk: 52

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-30
Form: 424B5
Chunk 52
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 in cash, have set apart sufficient funds for the redemption for the benefit of the holders of the Series B Preferred Shares called for redemption or (2) if the Series B Preferred Shares will be redeemed with common shares, have instructed the transfer agent in writing that the Series B Preferred Shares will be redeemed in common shares and (iii) have given irrevocable instructions to pay or issue the redemption price, then from and after the redemption date, those Series B Preferred Shares will be treated as no longer being outstanding, no further dividends will accrue and all other rights of the holders of those Series B Preferred Shares will terminate. The holders of those Series B Preferred Shares will retain their right to receive the redemption price for their shares and an amount equal to all accrued but unpaid cash dividends, if any, to but not including the redemption date, without interest.

<div align='center'>S-31</div>

Any Series B Preferred Shares that will at any time have been converted, redeemed, repurchased or otherwise acquired by the Company will, after such conversion, redemption or acquisition, have the status of authorized but unissued Series B Preferred Shares.

Liquidation Preference

Upon any voluntary or involuntary liquidation, dissolution, termination, cancellation or winding up of our affairs, before any distribution or payment will be made to holders of our common shares or any other class or series of beneficial interests ranking junior to our Series B Preferred Shares, the holders of Series B Preferred Shares then outstanding will be entitled to be paid out of our assets legally available for distribution to our shareholders, after payment or provision for our debts and other liabilities, the liquidation preference equal to the Stated Value of $25.00 per share, subject to appropriate adjustment in relation to any recapitalizations, share dividends, share splits, share combinations, reclassifications or other similar events which affect the Series B Preferred Shares, plus an amount equal to accrued but unpaid cash dividends thereon, if any, to but not including the date of payment, pari passu with the holders of our Series A Preferred Shares and any other class or series of our beneficial interests ranking on parity with the Series B Preferred Shares as to the liquidation preference and/or accrued but unpaid dividends they are entitled to receive.

If the assets of the Company legally available for distribution to shareholders are insufficient to pay in full the liquidating distributions on all outstanding Series B Preferred Shares and the corresponding amounts payable on all outstanding shares of any class or series of Parity Shares, then all assets distributed to the holders of the Series B Preferred Shares