Company: NREF
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001786248-25-000016
Chunk: 44

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 44
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 flowDiscount rate15.51% - 18.10%16.81 %Private REIT26,113 Market approachNAV per share multiple0.95 - 1.10x1.03xIQHQ Warrants30,386 Option pricing modelVolatility35.00% - 90.00%62.50 %(1)Averages are weighted based on the fair value of the related instrumentThe table below reflects a summary of changes for the Company's Level 3 common and preferred stock assets carried at fair value on the Consolidated Balance Sheets for the six months ended June 30, 2025:Balances as of December 31, 2024AdditionsChange in Unrealized Gains/(Losses)Balances as of June 30, 2025NexPoint Storage Partners$30,467 $— $(5,764)$24,703 IQHQ Series D Preferred Stock18,949 — (417)18,532 IQHQ Series E Preferred Stock— 64,710 30,181 94,891 Private REIT26,922 — (809)26,113 IQHQ Warrants27,400 30,220 8,014 65,634 Other Financial Instruments Carried at Fair ValueRedeemable noncontrolling interests in the OP and the 9.00% Series B Cumulative Redeemable Preferred Stock, par value $0.01 per share (the "Series B Preferred Stock") have redemption features and are marked to their redemption value if such value exceeds the carrying value. The redemption values are based on the fair value of the Company’s common stock at the redemption date, and therefore, are calculated based on the fair value of the Company’s common stock at the balance sheet date. Since the valuation is based on observable inputs such as quoted prices for similar instruments in active markets, the redeemable noncontrolling interests in the OP and the Series B Preferred Stock are classified as Level 2 if they are adjusted to their redemption value. As of June 30, 2025, the redeemable noncontrolling interests in the OP and the Series B Preferred Stock are valued at their carrying value on the Consolidated Balance Sheets.

11. Stockholders’ Equity

Common StockDuring the six months June 30, 2025, the Company issued 260,699 shares of common stock, par value of $0.01 per share pursuant to the Amended and Restated