Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 293

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 293
---
 risks relating to the payment and source of distributions, see “Risk Factors—Risks
Related to This Offering— Dividend payments on the Series B Redeemable Preferred Stock are not guaranteed” and “—We
may have difficulty completely funding our distributions with funds provided by cash flows from operating activities; therefore, we may
use cash flows from financing activities, which may include borrowings and net proceeds from shares sold in this offering or our common
stock offering, proceeds from the issuance of additional shares under any future common stock distribution reinvestment plan, cash resulting
from a waiver or deferral of fees by the Manager, or other sources to fund distributions to our stockholders. The use of these sources
to pay distributions and the ultimate repayment of any liabilities incurred could adversely impact our ability to pay distributions in
future periods, decrease the amount of cash we have available for operations and new investments and/or potentially impact the value or
result in dilution of your investment by creating future liabilities, reducing the return on your investment or otherwise.”

<div align='center'>139</div>

Amounts available for distributions
will be affected by our expenses, including any fees paid and distributions made to the Manager and any of its affiliates. The amounts
available for distributions will also be affected by any distributions made to the holders of OP Units.

There can be no assurances
that the current distribution rate or amount per share will be maintained. In the near-term, we expect that we may need to continue to
rely on sources other than cash flows from operations, as determined on a GAAP basis, to pay cash distributions, which if insufficient
could negatively impact our ability to pay cash distributions.

Business Combinations

Under the MGCL, certain business
combinations between a Maryland corporation and an interested stockholder or the interested stockholder’s affiliate are prohibited
for five years after the most recent date on which the stockholder becomes an interested stockholder. For this purpose, the term “business
combinations” includes mergers, consolidations, share exchanges, or, in circumstances specified in the statute, asset transfers
and issuances or reclassifications of equity securities. An “interested stockholder” is defined for this purpose as: (i) any
person who beneficially owns, directly or indirectly, 10% or more of the voting power of the corporation’s outstanding voting stock
after the date on which the corporation has 100 or more beneficial owners of its stock; or (ii) an affiliate or associate of the
cor