Company: BHM
Filing Date: 2025-04-07
Form Type: POS AM
Source: 0001104659-25-032524
Chunk: 255

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-07
Form: POS AM
Chunk 255
---
 the U.S. federal income tax laws, more than 9.8% of:

| · | the total value of                                               
 the aggregate of the outstanding shares of our capital stock; or |

| · | the                                                                                                                   
 total value or number (whichever is more restrictive) of the aggregate of the outstanding shares of our common stock. |

Further, our charter provides
that no person may own more than 9.8% in value or in number of shares, whichever is more restrictive, of the outstanding shares of Series A
Redeemable Preferred Stock. We refer to these limitations regarding the ownership of our stock collectively as the “9.8% Ownership
Limitation.” Further, our charter provides for certain circumstances where our board of directors may exempt (prospectively or retroactively)
a person from the 9.8% Ownership Limitation and establish or increase an excepted holder limit for such person. Subject to certain conditions,
our board of directors may also increase the 9.8% Ownership Limitation for one or more persons and decrease the 9.8% Ownership Limitation
for all other persons.

On
June 28, 2023, pursuant to Section 6.1.8 of Article VI of our charter, our board of directors adopted resolutions decreasing
the 9.8% Ownership Limitation from 9.8% to 8.75% (in value or in number of shares, whichever is more restrictive) for all stockholders
of the company that are not Excepted Holders (as defined in our charter) (collectively, the “Decreased Ownership Limits”),
in connection with an exemption granted by our board of directors, pursuant to Section 6.1.7 of our charter, to Par Sanda and Sand
Capital Associates, LLC, a Florida limited liability company (together, the “Sand Group”) from the 9.8% Ownership Limitation
and establishing an Excepted Holder Limit (as defined in our charter) for the Sand Group, subject to certain limitations and conditions
(collectively, the “Original Exemption”). The Decreased Ownership Limits and the Original Exemption were to terminate no later
than December 28, 2024 (the “Revocation Date”). On November 5, 2024, pursuant to our charter, our board of directors
adopted resolutions to modify and extend the Original Exemption (the “Modified Exemption”) such that the Revocation Date will
be no later