Company: NREF
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001437749-25-033056
Chunk: 44

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-11-04
Form: 424B5
Chunk 44
---
 Stock in cash may be limited to the extent that we do not have sufficient funds available to fund such cash redemption. Further, our obligation to redeem any of the shares of Series C Preferred Stock submitted for redemption in cash may be restricted by Maryland law. No redemptions of shares of Series C Preferred Stock will be made at such time as the terms and provisions of any agreement to which we are a party prohibits such redemption or provides that such redemption would constitute a breach thereof or a default thereunder, or if such redemption would result in a Change of Control (as defined below).

Redemption of the Series C Preferred Stock will be made following death or qualifying disability upon delivery by the holder of a duly completed notice to the Company or through the procedures of DTC, which will be irrevocable except upon written consent of the Company, in compliance with the requirements above and the Stated Transfer Procedures. The redemption date for shares to be redeemed at the option of a holder following death or qualifying disability will be a date selected by the Company in its discretion that is within 45 days of the date the Company receives a redemption notice from the holder.

<div align='center'>S-23</div>

Optional Redemption by the Company

Beginning on the first day of the first quarter following the second anniversary of the date of original issuance of the shares of Series C Preferred Stock to be redeemed, we will have the right (but not the obligation) to redeem all or some portion of outstanding shares of Series C Preferred Stock at a redemption price equal to 100% of the Stated Value, plus an amount equal to accrued but unpaid cash dividends thereon, if any, to but not including the date of redemption. If we choose to redeem any shares of Series C Preferred Stock, for so long as our common stock is listed or admitted to trading on the NYSE, the NYSE Texas or another national securities exchange or automated quotation system, we have the right, in our sole discretion, to pay the redemption price in cash or in equal value of shares of our common stock, based on the closing price per share of our common stock for the single trading day prior to the date of redemption. Any such redemption may be made conditional on such factors as may be determined by the Board and as set forth in the notice of redemption.

If fewer than all of the outstanding shares of Series C Preferred Stock are to be redeemed pursuant to the Company’s redemption right, the shares of Series C Preferred Stock to be redeemed will be redeemed pro rata (as nearly as may