Company: NREF
Filing Date: 2025-03-14
Form Type: 424B5
Source: 0001437749-25-007771
Chunk: 13

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-03-14
Form: 424B5
Chunk 13
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 factors, constitute forward-looking statements. See“Cautionary Statement Regarding Forward-Looking Statements”in this prospectus supplement.

Risks Related to this Offering

There is currently no public trading market for our Series B Preferred Stock, and one may never exist; therefore, your ability to dispose of your shares will likely be limited.

There is no public market for the Series B Preferred Stock offered in this offering, and we currently have no plan to list the Series B Preferred Stock on a securities exchange or to include such shares for quotation on any national securities market. Additionally, our charter contains restrictions on the ownership and transfer of our securities, including our Series B Preferred Stock, and these restrictions may inhibit the ability to sell shares of our Series B Preferred Stock, promptly or at all. If you are able to sell the Series B Preferred Stock, you may only be able to sell them at a substantial discount from the price you paid. Therefore, you should purchase the Series B Preferred Stock only as a long-term investment.

Beginning on the first day of the month following the original issuance of any share of Series B Preferred Stock, the holder thereof may require us to redeem such shares, and beginning on the first day of the month following the second anniversary of the date of original issuance, we may redeem, any such share, in each case with the redemption price payable, in our sole discretion, 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. If we opt to pay the redemption price in shares of our common stock, holders of shares of Series B Preferred Stock will receive publicly traded shares. However, there is no guarantee we will elect to redeem any shares of Series B Preferred Stock pursuant to our option, and in addition, there are aggregate limits per calendar month, fiscal quarter and fiscal year that apply to redemptions of shares of Series B Preferred Stock that a holder my require us to complete. See “Description of Series B Preferred Stock—Redemption at Option of Holders” in this prospectus supplement for additional information.

Because we conduct substantially all of our operations through the OP, our ability to pay dividends on our Series B Preferred Stock depends almost entirely on the distributions we receive from the OP. We may not be able to pay dividends regularly on our Series B Preferred Stock.

We may not be able to pay dividends on a regular basis in the future on our Series B Preferred Stock. We intend to contribute the entire net proceeds