Company: NXDT
Filing Date: 2025-04-11
Form Type: S-4
Source: 0001437749-25-011826
Chunk: 219

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-04-11
Form: S-4
Chunk 219
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 the obligation) to redeem all or some portion of the outstanding shares of New Series B Preferred Stock, on a date specified by New NXDT no later than 120 days after the first date on which such Change of Control occurred, in cash at a redemption price equal to 100% of the Series B Stated Value, plus an amount equal to accrued but unpaid cash dividends thereon, if any, to but not including the date of redemption. Any such redemption may be made conditional on such factors as may be determined by the New NXDT board of directors and as set forth in the notice of redemption.

If fewer than all of the outstanding New Series B Preferred Stock is to be redeemed pursuant to New NXDT’s redemption right, the New Series B Preferred Stock to be redeemed will be redeemed pro rata (as nearly as may be practicable without creating fractional shares), by lot or by any other equitable method that New NXDT determines. If such redemption is to be by lot and, as a result of such redemption, any holder of New Series B Preferred Stock, other than a holder of New Series B Preferred Stock that has received an exemption, would become a holder of a number of shares of New Series B Preferred Stock in excess of the aggregate stock ownership limit because such holder’s New Series B Preferred Stock was not redeemed, or was only redeemed in part, then, except as otherwise provided in Article VII of the New NXDT Charter, New NXDT will redeem the requisite number of New NXDT Series B Preferred Stock of such holder such that no holder will hold a number of shares in excess of the aggregate stock ownership limit subsequent to such redemption.

Unless full cumulative dividends on all New Series B Preferred Stock for all past Series B Dividend Periods that have ended will have been or contemporaneously are declared and paid in cash or New Common Stock or declared and a sum sufficient for the payment thereof is set apart for payment, (i) no New Series B Preferred Stock will be redeemed at the option of New NXDT in connection with a Change of Control unless all outstanding New Series B Preferred Stock simultaneously redeemed, and (ii) New NXDT will not purchase or otherwise acquire directly or indirectly for any consideration, nor will any monies be paid to or be made available for a sinking fund for the redemption of, any New Series B Preferred Stock (except by conversion into or exchange for shares of, or options, warrants or rights to purchase or subscribe for stock ranking junior to the New Series B Preferred Stock as to the payment of dividends and the distribution