Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 85

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 85
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 the market price of the applicable series. Ratings only reflect the views of
the rating agency or agencies issuing the ratings and such ratings could be revised downward, placed on negative outlook or withdrawn
entirely at the discretion of the issuing rating agency if in its judgment circumstances so warrant. While ratings do not reflect market
prices or the suitability of a security for a particular investor, such downward revision or withdrawal of a rating could have an adverse
effect on the market price of the Series B Redeemable Preferred Stock. It is also possible that the Series B Redeemable Preferred
Stock will never be rated.

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Dividend payments on the Series B Redeemable Preferred Stock are not guaranteed.

Although
dividends on the Series B Redeemable Preferred Stock are cumulative, our board of directors must approve the actual payment of such
distributions. Our board of directors can elect at any time or from time to time, and for an indefinite duration, not to pay any or all
accrued distributions. Our board of directors could do so for any reason, and may be prohibited from doing so in the following instances:

| ● | poor historical or projected cash flows;                                                                                                                                          |
| ● | the need to make payments on our indebtedness;                                                                                                                                    |
| ● | concluding that payment of distributions on any or all such series of preferred stock would cause us to breach the terms of any indebtedness or other instrument or agreement; or |
| ● | determining that the payment of distributions would violate applicable law regarding unlawful distributions to stockholders.                                                      |

We intend to use the net proceeds from this offering of the Series B Redeemable Preferred Stock to fund future investments and for other general corporate and working capital purposes, but any such offerings will not be conditioned upon the closing of pending property investments and we will have broad discretion to determine alternative uses of proceeds.

We
intend to use a portion of the net proceeds from this offering of our Series B Redeemable Preferred Stock to fund future investments
and for other general corporate and working capital purposes. However, the offering will not be conditioned upon the closing of definitive
agreements to acquire or invest in any properties. We will have broad discretion in the application of the net proceeds from this offering,
and holders of our Series B Redeemable Preferred Stock will not have the opportunity as part of their investment decision to assess
whether the net proceeds are being used appropriately. Because of the number and variability of factors that will determine our use of