Company: NREF
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001437749-25-033056
Chunk: 35

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-11-04
Form: 424B5
Chunk 35
---
 to use the net proceeds contributed by us for general corporate purposes, which may include funding investments and repaying amounts outstanding under our debt obligations.

Pending these applications, our OP may invest the net proceeds contributed by us in interest-bearing accounts and short-term, interest-bearing securities, or in any other manner that is consistent with our intention to qualify for taxation as a REIT and maintain our exclusion from registration under the Investment Company Act.

<div align='center'>S-18

DESCRIPTION OF SERIES C PREFERRED STOCK</div>

The following description summarizes the material provisions of the Series C Preferred Stock we may offer. This description is not complete and is subject to, and is qualified in its entirety by reference to, our charter, including the Articles Supplementary establishing the Series C Preferred Stock which were filed with the State Department of Assessments and Taxation of Maryland, and the SEC on Form 8-K on November 4, 2025, and our bylaws and applicable provisions of Maryland law. For a more complete description of certain provisions of Maryland law, our charter and our bylaws, see“Description of Capital Stock”beginning on page 4 of the accompanying prospectus and“Certain Provisions of Maryland Law and our Charter and Bylaws”beginning on page 19 of the accompanying prospectus.

General

We are currently authorized to issue up to 100,000,000 shares of preferred stock, par value $0.01 per share, in one or more classes or series, of which our Board previously classified 11,300,000 shares as Series A Preferred Stock and 17,200,000 shares as Series B Preferred Stock. Our Board has additionally classified 8,000,000 shares of preferred stock as Series C Preferred Stock, of which 8,000,000 have been authorized for issuance in connection with this offering. Each class or series of our preferred stock will have the designations, voting powers, preferences, conversion or other rights, qualifications, limitations, restrictions, terms and conditions of redemption, and other terms as Maryland law may permit and our Board may determine by adoption of applicable articles supplementary to our charter. Our Board may, without notice to or the consent of holders of Series C Preferred Stock, authorize the issuance and sale of additional shares of Series C Preferred Stock and authorize and issue additional shares of Junior Stock or Parity Stock from time to time.

There is no established public trading market for the offered shares of Series C Preferred Stock and we do not expect a market to develop. We do not intend to apply