Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 1986

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 1986
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 per REIT Unit on the date fixed for the determination of unitholders entitled to receive such rights or warrants, (B) shall not issue similar rights or warrants to all holders of Membership Units entitling them to subscribe for or purchase REIT Units or Membership Units at a comparable price (determined, in the case of Membership Units, by reference to the Conversion Factor), and (C) cannot issue such rights or warrants to a Redeeming Member as otherwise required by the definition of “REIT Units Amount” set forth in this , then the Conversion Factor in effect at the opening of business on the day following the date fixed for such determination shall be increased by multiplying such Conversion Factor by a fraction of which the numerator shall be the number of REIT Units outstanding at the close of business on the date fixed for such determination plus the number of REIT Units so offered for subscription or purchase, and of which the denominator shall be the number of REIT Units outstanding at the close of business on the date fixed for such determination plus the number of REIT Units which the aggregate offering price of the total number of REIT Units so offered for subscription would purchase at such daily market price per share, such increase of the Conversion Factor to become effective immediately after the opening of business on the day following the date fixed for such determination; and (iv) in case NHT shall, by distribution or otherwise, distribute to all holders of its REIT Units, (A) capital shares of any class other than its REIT Units, (B) evidence of its indebtedness or (C) assets (excluding any rights or warrants referred to in clause (iii) above, any cash distribution lawfully paid under the laws of the province of organization of NHT, and any distribution referred to in clause (i) above) and shall not cause a corresponding distribution to be made to all holders of Membership Units, the Conversion Factor shall be adjusted so that the same shall equal the ratio determined by multiplying the Conversion Factor in

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effect immediately prior to the close of business on the date fixed for the determination of unitholders entitled to receive such distribution by a fraction of which the numerator shall be the daily market price per REIT Unit on the date fixed for such determination, and of which the denominator shall be such daily market price per REIT Unit less the fair market value (as determined by the Class A Members, whose determination shall be conclusive and described in a resolution of the Class A Members and delivered