Company: NREF
Filing Date: 2025-03-14
Form Type: 424B5
Source: 0001437749-25-007771
Chunk: 15

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-03-14
Form: 424B5
Chunk 15
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 to issue, from our authorized but unissued shares of capital stock, common stock and preferred stock in such classes or series as our Board may determine and to establish from time to time the number of shares to be included in any such class or series. We may issue shares of common stock and additional shares of Series B Preferred Stock as well as shares of Series A Preferred Stock or other shares of preferred stock on parity with the Series B Preferred Stock without the consent of the holders of shares of Series B Preferred Stock or our common stock. Our Board may elect to, among other things, sell additional shares in future public offerings and issue equity interests in private offerings, or issue shares to sellers of investments or properties we directly or indirectly acquire instead of, or in addition to, cash consideration. The issuance of additional shares of Series B Preferred Stock, shares of Series A Preferred Stock or other shares of preferred stock on parity with or senior to the Series A Preferred Stock and the Series B Preferred Stock would dilute the interests of the holders of Series B Preferred Stock, and any issuance of preferred stock on a parity with or senior to the Series B Preferred Stock or equity or debt securities convertible into preferred stock with a distribution preference over the Series B Preferred Stock or additional indebtedness, could affect our ability to pay dividends on, redeem or pay the liquidation preference on the Series B Preferred Stock. Similarly, the issuance of additional shares of common stock or convertible or exchangeable securities, warrants or options would dilute the interests of the holders of common stock, and any issuance of securities senior to the common stock or additional indebtedness, could affect our ability to pay dividends on such common stock. Further, depending upon the terms of such transactions, most notably the offering price per share, existing stockholders may also experience a dilution in the book value of their investment in us. The issuance of shares of our common stock upon redemption of Series B Preferred Stock also may have the effect of reducing our net income per share (or decreasing our net loss per share). Stockholders have no rights to buy additional shares of stock or other securities if we issue new shares of stock or other securities.

None of the provisions relating to the Series B Preferred Stock relate to or limit our indebtedness or afford the holders of Series B Preferred Stock protection in the event of a highly leveraged or other transaction, including a merger or the sale, lease or conveyance of all or substantially all our assets or business, that might adversely affect a holder of Series B Preferred Stock.

Further, holders of preferred stock are