Company: BHM
Filing Date: 2025-03-28
Form Type: POS AM
Source: 0001104659-25-029225
Chunk: 229

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-28
Form: POS AM
Chunk 229
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 providing liquidity for its stockholders within four to six years
from the completion of its offering stage, where the offering stage was the period during which Bluerock Residential offered equity that
was not listed on a national securities exchange. If Bluerock Residential did not begin the process of listing its shares of common stock
on a national securities exchange by the end of that period, or did not otherwise complete a liquidity event by such date, its charter
required that it seek stockholder approval of the liquidation of Bluerock Residential, unless a majority of its board of directors, including
a majority of independent directors, determines that liquidation was not then in the best interests of its stockholders. Bluerock
Residential completed its offering stage in September 2013. Bluerock Residential listed its Class A common stock on March 28,
2014. In connection with the listing transaction, Bluerock Residential converted the shares its original common stock issued in
its unlisted offering into 1/3 share each of Class B-1 common stock, Class B-2 common stock and Class B-3 common stock.
Bluerock Residential further effectuated two reverse stock splits: the first, a 2.264881 to 1 reverse stock split of its outstanding shares
of Class B-1 common stock, Class B-2 common stock and Class B-3 common stock; and the second, a 1.0045878 to 1 reverse
stock split of its outstanding shares of Class B-1 common stock, Class B-2 common stock and Class B-3 common stock.
The Class B common stock was not listed as part of the listing of the Class A common stock; however, the Class B common
stock converted, automatically, to Class A common stock on a schedule of 360 days following the Class A common stock listing
for the Class B-1 common stock, 540 days following the Class A common stock listing for the Class B-2 common stock,
and 720 days following the Class A common stock listing for the Class B-3 common stock. This resulted in the completion
of a liquidity event for all purchasers of common stock in Bluerock Residential’s original common stock offering approximately 2.5
years following completion of the offering stage thereof.

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CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS</div>

Management Agreement

We, the Operating Partnership
and our Manager are parties to the Management Agreement. The Management Agreement