Company: BHM
Filing Date: 2025-10-08
Form Type: S-11
Source: 0001104659-25-097905
Chunk: 148

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-10-08
Form: S-11
Chunk 148
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 stock, as well as the issuance of OP Units. Given the significant volatility in the trading price of REIT equities and our otherwise
stable financial condition and liquidity position, we cannot provide assurances that these offerings are a likely source of capital to
meet short-term liquidity needs.

On February 13, 2024,
our board of directors (the “Board”) authorized a stock repurchase plan for the repurchase of up to an aggregate of $5 million
of our outstanding shares of Class A common stock. The repurchase plan had a term of one year and ended in February 2025. We
made no repurchases of our Class A common stock under the plan.

On February 28, 2025,
our Board authorized a new stock repurchase plan for the repurchase, from time to time, of up to an aggregate of $5 million of our outstanding
shares of Class A common stock, with such repurchases to be conducted in accordance with the requirements of Rule 10b-18 of
the Securities Exchange Act of 1934 (the “Exchange Act”) and subject to Rule 10b-5 of the Exchange Act. The repurchase
plan has a term of one year and may be discontinued at any time. The extent to which we repurchase shares of our Class A common stock
under the repurchase plan, and the timing of any such repurchases, depends on a variety of factors including general business and market
conditions and other corporate considerations. We expect that any repurchases of our Class A common stock will be through open market
transactions, subject to market conditions, certain price limitations and other conditions established under the plan. Open market repurchases
will be structured to occur in conformity with the method, timing, price and volume requirements of Rule 10b-18 of the Exchange Act.
As of June 30, 2025, we had not made any repurchases of our Class A common stock.

Our primary long-term liquidity
requirements relate to (i) costs for additional residential investments, including development properties, (ii) repayment of
long-term debt and our revolving credit facility, (iii) capital expenditures, (iv) cash redemption requirements related to our
Series A Redeemable Preferred Stock, (v) cash requirements related to our Series A Redeemable Preferred Stock Safeguard
Policy, and (vi) Class A common stock repurchases under our stock repurchase plan.

We intend to finance our
long-term liquidity requirements with net proceeds of additional issuances of