Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 89

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 89
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 preferred stock (i) ranking on parity with the Series B Redeemable Preferred
Stock with respect to dividend rights and rights upon our liquidation, dissolution or winding up, and (ii) upon which like voting
rights have also been conferred. Other than in these limited circumstances, holders of Series B Redeemable Preferred Stock will generally
not have voting rights.

The amount of the liquidation preference is fixed and holders of Series B Redeemable Preferred Stock will have no right to receive any greater payment.

The
payment due upon liquidation is fixed at the liquidation preference of $25.00 per share of Series B Redeemable Preferred Stock, plus
an amount equal to all accrued and unpaid dividends thereon, to and including the date of payment, whether or not authorized or declared.
If, in the case of our liquidation, there are remaining assets to be distributed after payment of this amount, holders of Series B
Redeemable Preferred Stock will have no right to receive or to participate in these amounts.

Our charter, including the articles supplementary establishing the Series B Redeemable Preferred Stock, contains restrictions upon ownership and transfer of such preferred stock which may impair the ability of holders to acquire such preferred stock and the shares of our Class A common stock into which shares thereof may be converted, at the company’s option, pursuant to the redemption at the option of the holder under certain circumstances.

Our
charter, including the articles supplementary establishing the Series B Redeemable Preferred Stock, contains restrictions on ownership
and transfer of the Series B Redeemable Preferred Stock, which restrictions are intended to assist us in qualifying and maintaining
our qualification as a REIT for U.S. federal income tax purposes. For example, to assist us in qualifying as a REIT, the articles supplementary
establishing the Series B Redeemable Preferred Stock prohibits anyone from owning, or being deemed to own by virtue of the applicable
constructive ownership provisions of the Code, more than 9.8% in value or number of shares, whichever is more restrictive, of the outstanding
Series B Redeemable Preferred Stock. See “Description of Capital Stock — Restrictions on Ownership and Transfer”
in this prospectus. You should consider these ownership limitations prior to a purchase of shares of our Series B Redeemable Preferred
Stock.

Our ability to pay dividends or redeem shares is limited by the requirements of Maryland law.

Our
ability to pay dividends on or redeem shares of the Series B Redeemable Preferred Stock is limited by the laws