Company: NXDT
Filing Date: 2025-04-11
Form Type: S-4
Source: 0001437749-25-011826
Chunk: 34

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-04-11
Form: S-4
Chunk 34
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 New NXDT Charter, attached to this proxy statement/prospectus as and the New NXDT Bylaws, attached to this proxy statement/prospectus as , each of which is incorporated by reference into this proxy statement/prospectus. The Board unanimously recommends that the Old NXDT shareholders vote FOR the Conversion Proposal.

Reasons for the Conversion

The purpose of the Conversion is to convert the jurisdiction of organization of Old NXDT from Delaware to Maryland and to change the legal form of Old NXDT from a statutory trust to a corporation. Our Board determined that these changes are in the best interests of our shareholders because (i) the change would make us more comparable to our peers inasmuch as approximately 75% of the public companies that qualify as REITs are currently organized under Maryland law and (ii) in comparison to Delaware, Maryland has a comprehensive regulatory system governing, and courts with extensive expertise in addressing issues pertinent to, corporations operating as REITs. As a result of these considerations, our Board has concluded that the Conversion is advisable and in the best interest of Old NXDT and our shareholders.

Structure and Completion of the Conversion; Effective Time of the Conversion

Subject to the conditions to the Conversion described herein, Old NXDT will convert from a statutory trust formed under the laws of the State of Delaware to a corporation formed under the laws of the State of Maryland. At the Effective Time, the converted entity’s name will change to “NexPoint Diversified Real Estate Trust, Inc.”

To convert to a Maryland corporation, Old NXDT will file the New NXDT Charter and Articles of Conversion with the SDAT. The Articles of Conversion will specify the date and time the Conversion is to be effective. At the Effective Time, each outstanding Old Common Share will be converted into one share of New Common Stock, each Old Series A Preferred Share will be converted into one share of New Series A Preferred Stock and each Old Series B Preferred Share will be converted into one share of New Series B Preferred Stock. We anticipate that the Conversion will be completed on or about June 20, 2025.

Following the Conversion, your rights, and the limitations thereon, as a shareholder of New Stock will be governed by the New NXDT Charter, the New NXDT Bylaws and Maryland law, which we believe are substantially similar, but not identical, to the rights and limitations thereon of Old Shares under Old NXDT. See “Comparison of Rights of Shareholders of Old NXDT and New NXDT.”

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