Company: NXDT
Filing Date: 2025-04-11
Form Type: S-4
Source: 0001437749-25-011826
Chunk: 36

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-04-11
Form: S-4
Chunk 36
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 or liabilities of Old NXDT or impair the rights of creditors or any liens on the property of the Old NXDT; and |

| ● | the ownership interests of the holders of Old Common Shares, Old Series A Preferred Shares and Old Series B Preferred Shares shall cease to exist as ownership interests in Old NXDT and continue to exist as shares of New Common Stock, New Series A Preferred Stock and New Series B Preferred Stock, respectively, and as stock of the successor registrant of Old NXDT, the New Common Stock and the New Series A Preferred Stock will be deemed to be registered under Section 12(b) of the Exchange Act. |

Conditions to Completion of the Conversion; Termination of the Plan

The completion of the Conversion is subject to the approval by the affirmative vote of holders of a majority of the outstanding Old Common Shares and Old Series A Preferred Shares, voting as a single class, present or represented by proxy at the Annual Meeting and entitled to vote on the Conversion Proposal. However, even if the Conversion Proposal is approved, the Board may terminate the Conversion if the Board determines that the Conversion is no longer advisable and in the best interest of Old NXDT and its shareholders or may defer the timing of the Conversion. The Board may deem the Conversion to be inadvisable if, among other things:

| ● | the NYSE has not approved the listing of the shares of New Common Stock and New Series A Preferred Stock to be issued in connection with the Conversion, subject to official notice of issuance; or |

| ● | necessary consents or approvals from lenders are not obtained. |

We have no current intention of abandoning the Conversion if shareholder approval of the Conversion Proposal is obtained.

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Regulatory Approvals

In connection with the issuance of the New Stock, we must file a registration statement with the SEC under the Securities Act, of which this proxy statement/prospectus forms a part, that is declared effective by the SEC.

Absence of Dissenters’(or Appraisal) Rights

Pursuant to Delaware law and the Declaration of Trust, Old NXDT shareholders will not be entitled to dissenters’ rights of appraisal in connection with, or as a result, of the Conversion.

Restrictions on Transfer of New Stock Issued as a Result of the Conversion

The shares of New Stock to be issued in connection with the Conversion will, subject to restrictions on ownership and transfer of New Stock set forth in the New NXDT Charter, be freely transferable under the Securities Act,