Company: NXDT
Filing Date: 2025-06-12
Form Type: S-4
Source: 0001437749-25-020201
Chunk: 2

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-06-12
Form: S-4
Chunk 2
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ulative Preferred Stock
66,765 Shares of 9.00% Series B Cumulative Redeemable Preferred Stock</div>

This prospectus relates to the conversion of (i) 45,900,489.52 common shares, par value $0.001 per share (“Old Common Shares”) of NexPoint Diversified Real Estate Trust, a Delaware statutory trust (“Old NXDT”), into 45,900,489.52 shares of common stock, par value $0.001 (“New Common Stock”) of NexPoint Diversified Real Estate Trust, Inc., a Maryland corporation (“New NXDT”), (ii) 3,359,593 5.50% Series A Cumulative Preferred Shares, par value $0.001 per share, liquidation preference $25.00 per share (“Old Series A Preferred Shares”), of Old NXDT into 3,359,593 shares of 5.50% Series A Cumulative Preferred Stock, par value $0.001 per share, liquidation preference $25.00 per share (“New Series A Preferred Stock”), of New NXDT, and (iii) 66,765 9.00% Series B Cumulative Redeemable Preferred Shares, par value $0.001 per share, liquidation preference $25.00 per share (“Old Series B Preferred Shares”), of Old NXDT into 66,765 shares of 9.00% Series B Cumulative Redeemable Preferred Stock, par value $0.001 per share, liquidation preference $25.00 per share (“New Series B Preferred Stock”), of New NXDT, in each case pursuant to, and at the effective time of, Old NXDT’s conversion of its jurisdiction and form of organization (the “Conversion”) from a Delaware statutory trust to a Maryland corporation with the name “NexPoint Diversified Real Estate Trust, Inc.”

The shareholders of Old NXDT of record on the record date for the annual meeting approved the Conversion at the annual meeting of Old NXDT’s shareholders held virtually on June 10, 2025, at 10:30 a.m. Central Time. Accordingly, the Old Common Shares, Old Series A Preferred Shares and Old Series B Preferred Shares of Old NXDT shall automatically convert to the New Common Stock, New Series A Preferred Stock and New Series B Preferred Stock, respectively, without any further action on the date of the Conversion.

We expect the shares of New Common Stock and New Series A Preferred Stock to trade on the New York