Company: NXDT
Filing Date: 2025-04-11
Form Type: S-4
Source: 0001437749-25-011826
Chunk: 450

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-04-11
Form: S-4
Chunk 450
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orporated by reference to Exhibit 3.1 to Old NXDT’s Current Report on Form 8-K filed with the SEC on January 30, 2025).           |
| 5.1*    |     | Opinion of Ballard Spahr LLP.                                                                                                                                                                                           |
| 23.1*   |     | Consent of KPMG LLP.                                                                                                                                                                                                    |
| 23.2*   |     | Consent of Ballard Spahr LLP (included in Exhibit 5.1 hereto)                                                                                                                                                           |
| 24.1*   |     | Powers of Attorney (included as part of signature page hereto).                                                                                                                                                         |
| 99.1*   |     | Form of Proxy Card for the Annual Meeting.                                                                                                                                                                              |
| 107*    |     | Calculation of Filing Fees Tables.                                                                                                                                                                                      |

| * | Filed herewith. |

Item 22. Undertakings.

The undersigned registrant hereby undertakes:

(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:

| (i) | To include any prospectus required by Section 10(a)(3) of the Securities Act. |

<div align='center'>II-2</div>

| (ii) | To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering price set forth in the “Calculation of Filing Fee table” in the effective registration statement. |

| (iii) | To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement. |

| (2) | That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities