Company: NREF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-052000
Chunk: 299

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 2
Chunk 299
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 will terminate on the earlier of the date the Company sells all 17,200,000 shares of the Series B Preferred Stock in the offering or December 29, 2026 (which is the third anniversary of the effective date of the Company’s registration statement), which may be extended by the Board in its sole discretion. The Board may elect to terminate this offering at any time. As of September 30, 2025, the Company has sold 13,717,142 shares of Series B Preferred Stock for total gross proceeds of $335.1 million.

Company Notes Offering

The Company has an aggregate principal amount of $180.0 million of its 5.75% Notes outstanding as of September 30, 2025.

OP Notes Offering

As of September 30, 2025, the OP had an aggregate principal amount of $36.5 million of its 7.50% OP Notes outstanding.

Subsequent to September 30, 2025, the OP issued a total of $45.0 million aggregate principal amount of its 2026 OP Notes for proceeds of approximately $43.9 million after original issue discount, the proceeds of which were used to repay the 7.50% OP Notes at maturity. 

Other Potential Sources of Financing

We may seek additional sources of liquidity from further repurchase facilities, other borrowings and future offerings of common and preferred equity and debt securities and contributions from existing holders of the OP or Subsidiary OPs. In addition, we may apply our existing cash and cash equivalents and cash flows from operations to any liquidity needs. As of September 30, 2025, our cash and cash equivalents were $17.9 million.

Cash Flows

The following table presents selected data from our Consolidated Statements of Cash Flows for the nine months ended September 30, 2025 and September 30, 2024 (in thousands):

For the Nine Months Ended September 30, 202520252024Net cash provided by operating activities$27,452 $24,925 Net cash provided by investing activities279,659 735,935 Net cash (used in) financing activities(292,603)(738,802)Net increase (decrease) in cash, cash equivalents, and restricted cash14,508 22,058 Cash, cash equivalents and restricted cash, beginning of period7,053 16,649 Cash, cash equivalents and restricted cash, end of period$21,561 $38