Company: NREF
Filing Date: 2025-03-14
Form Type: 424B5
Source: 0001437749-25-007771
Chunk: 23

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-03-14
Form: 424B5
Chunk 23
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 liquidation. Unless full cumulative dividends on shares of our Series B Preferred Stock for all past dividend periods have been declared and paid (or set apart for payment), we will not declare or pay dividends with respect to any shares of our common stock for any period. Upon liquidation, dissolution or winding up of our Company, the holders of shares of our Series B Preferred Stock are entitled to receive a liquidation preference of $25.00 per share, plus an amount equal to accrued but unpaid cash dividends thereon, if any, to but not including the date of payment, in each case prior and in preference to any distribution to the holders of shares of our common stock or any other class of our equity securities.

We established the offering price for the Series B Preferred Stock pursuant to discussions among us and our affiliated dealer manager; as a result, the actual value of an investment in the Series B Preferred Stock may be substantially less than the amount paid.

The selling price of the Series B Preferred Stock was determined pursuant to discussions among us and the dealer manager, which is an affiliate of the Manager, based upon the following primary factors at the time of the offering: the economic conditions in and future prospects for the industry in which we compete; our prospects for future earnings; an assessment of our management; the state of our development; the prevailing condition of the equity securities market; the state of the market for non-traded REIT securities distributed through independent broker-dealers and registered investment advisers; and market valuations of public companies considered comparable to us. Because the offering price is not based upon any independent valuation, the offering price is not indicative of the proceeds that an investor in the Series B Preferred Stock would receive upon liquidation.

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The dealer manager’s relationship with us and the payment to it of substantial commissions and fees in connection with this offering may cause a conflict of interest and may hinder the dealer manager’s performance of its due diligence obligations.

In connection with this offering, we will enter into a dealer manager agreement with NexPoint Securities, an affiliate of the Manager, which will receive selling commissions and a dealer manager fee, all or a portion of which it may re-allow to participating broker-dealers. As dealer manager, NexPoint Securities has certain obligations under federal securities laws to undertake a due diligence investigation with respect to the parties involved in this offering. NexPoint Securities’ affiliation with the Manager and us may cause a conflict of interest for NexPoint Securities in carrying out its due diligence obligations. Thus, you