Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 294

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 294
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poration who, at any time within the two-year period prior to the date in question, was the beneficial owner, directly or indirectly,
of 10% or more of the voting power of the then outstanding stock of the corporation after the date on which the corporation has 100 or
more beneficial owners of its stock. A person is not an interested stockholder under the MGCL if the board of directors approved in advance
the transaction by which the person otherwise would become an interested stockholder. However, in approving the transaction, the board
of directors may provide that its approval is subject to compliance, at or after the time of the approval, with any terms and conditions
determined by the board.

After the five-year prohibition,
any such business combination between the corporation and an interested stockholder generally must be recommended by the board of directors
of the corporation and approved by the affirmative vote of at least: (i) 80% of the votes entitled to be cast by holders of outstanding
voting stock of the corporation and (ii) two-thirds of the votes entitled to be cast by holders of voting stock of the corporation
other than voting stock held by the interested stockholder or its affiliate with whom the business combination is to be effected, or held
by an affiliate or associate of the interested stockholder, voting together as a single voting group.

These super majority vote
requirements do not apply if the corporation’s common stockholders receive a minimum price, as defined under the MGCL, for their
shares of common stock in the form of cash or other consideration in the same form as previously paid by the interested stockholder for
its shares of common stock.

None of these provisions of
the MGCL will apply, however, to business combinations that are approved or exempted by the board of directors of the corporation prior
to the time that the interested stockholder becomes an interested stockholder. Pursuant to the business combination statute, our board
of directors has exempted any business combination involving us and any person, provided that such business combination is first approved
by our board of directors. Consequently, the five-year prohibition and the super majority vote requirements will not apply to business
combinations between us and any person that are first approved by our board of directors. As a result, any such person may be able to
enter into business combinations with us that may not be in the best interest of our stockholders, without compliance with the super majority
vote requirements and other provisions of the statute.

Should our board of directors