Company: BHM
Filing Date: 2025-03-28
Form Type: POS AM
Source: 0001104659-25-029225
Chunk: 107

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-28
Form: POS AM
Chunk 107
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 STOCK

You may be restricted from acquiring or transferring certain amounts of our Class A common stock.

The stock ownership restrictions
of the Code for REITs and the 9.8% stock ownership limits in our charter may inhibit market activity in our capital stock and restrict
our business combination opportunities.

In order to maintain our qualification
as a REIT, five or fewer individuals, as defined in the Code to include specified private foundations, employee benefit plans and trusts,
and charitable trusts, may not own, beneficially or constructively, more than 50% in value of our issued and outstanding stock at any
time during the last half of a taxable year. Attribution rules in the Code determine if any individual or entity beneficially or
constructively owns our capital stock under this requirement. Additionally, at least 100 persons must beneficially own our capital stock
during at least 335 days of a taxable year. To help ensure that we meet these tests, among other purposes, our charter restricts the acquisition
and ownership of shares of our capital stock.

Our charter, with certain
exceptions, authorizes our board of directors to take such actions as are necessary and desirable to preserve our qualification as a REIT.
Unless exempted, prospectively or retroactively, by our board of directors, our charter prohibits any person from beneficially or constructively
owning more than 9.8% in value of the aggregate of our outstanding shares of capital stock or 9.8% in value or number of shares, whichever
is more restrictive, of the outstanding shares of our common stock. Our board of directors may not grant an exemption from these restrictions
to any proposed transferee whose ownership in excess of such thresholds does not satisfy certain conditions designed to ensure that we
will not fail to qualify as a REIT. These restrictions on transferability and ownership will not apply, however, if our board of directors
determines that it is no longer in our best interest to continue to qualify as a REIT or that compliance is no longer required for REIT
qualification.

A limit on the percentage of our capital stock and common stock a person may own may discourage a takeover or business combination, which could prevent our common stockholders from realizing a premium price for their common stock.

Our charter restricts direct
or indirect ownership by one person or entity to no more than 9.8%, in value, of the outstanding shares of all classes and series of our
capital stock or 9.8% in value or by