Company: BHM
Filing Date: 2025-05-09
Form Type: 424B3
Source: 0001104659-25-046667
Chunk: 27

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-05-09
Form: 424B3
Chunk 27
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, the Company had issued a total of 5,285,053 shares of Series A Preferred Stock with total net proceeds of approximately $115.2 million after commissions, dealer manager fees, sales discounts and offering costs. Additionally, as of March 31, 2025, the Company, at the request of holders, had redeemed a total of 6,560 shares of Series A Preferred Stock through the issuance of 9,103 shares of Class A common stock. In May 2024, the Company announced the payment of an enhanced special dividend replacing the previous special dividend. The enhanced special dividend is aggregated with the regular monthly dividend so as to effect a dividend rate of the average one-month Term SOFR rate plus two percent, subject to a 6.5% minimum and an 8.5% maximum annual rate, calculated and paid monthly. Commencing in May 2024, the Series A Preferred enhanced special dividend was declared for each month for which the Board declared the regular monthly dividend of $0.125 per outstanding share of Series A Preferred Stock. At the date of issuance, the carrying amount of the Series A Preferred Stock was less than the redemption value. As a result of the Company’s determination that holder redemption is probable, the carrying value will be increased by periodic accretions so that the carrying value will equal the redemption value net of early redemption fees at the earliest redemption date. As of March 31, 2025, the Company had recorded a total of $0.8 million of accretion related to the Series A Preferred Stock.

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Table of Contents

Series A Preferred Stock Redemption Safeguard Policy

On
February 6, 2025, the Company implemented a new Series A Preferred Stock Redemption Safeguard Policy (the “Policy”) with respect
to its Series A Preferred Stock. The Policy is applicable in the event of any redemption of shares of Series A Preferred Stock in shares
of the Company’s Class A common stock rather than in cash (each, a “Preferred Redemption in common stock”). The Policy
provides that if, within 10 business days of any such Preferred Redemption in common stock, any such shares of Class A common stock are
sold at a loss (i.e. a lower price than the Aggregate Redemption Value), the holder can apply to the Company for a cash payment to the
holder in an amount equal to the difference between (i) the Aggregate Redemption Value of the Class A common stock so issued, and (ii)
the Aggregate Sale Price at which