Company: NREF
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001437749-25-033056
Chunk: 47

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-11-04
Form: 424B5
Chunk 47
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 purchase, merger or other acquisition transaction or series of purchases, mergers or other acquisition transactions of shares of our capital stock entitling that person to exercise more than 50% of the total voting power of all shares of our capital stock entitled to vote generally in elections of directors (except that such person will be deemed to have beneficial ownership of all securities that such person has the right to acquire, whether such right is currently exercisable or is exercisable only upon the occurrence of a subsequent condition); and

● following the closing of any transaction referred to in the bullet point above, neither we nor the acquiring or surviving entity has a class of common securities (or American depository receipts representing such common securities) listed on the NYSE, the NYSE Texas, the NYSE American or Nasdaq, or listed or quoted on an exchange or quotation system that is a successor to the NYSE, the NYSE Texas, the NYSE American or Nasdaq.

For purposes of the definition of Change of Control, a Permitted Holder includes the Manager and its affiliates.

If fewer than all of the outstanding shares of Series C Preferred Stock are to be redeemed pursuant to the Company’s redemption right, the shares of Series C Preferred Stock to be redeemed will be redeemed pro rata (as nearly as may be practicable without creating fractional shares), by lot or by any other equitable method that the Company determines. If such redemption is to be by lot and, as a result of such redemption, any holder of shares of Series C Preferred Stock, other than a holder of shares of Series C Preferred Stock that has received an exemption, would become a holder of a number of shares of Series C Preferred Stock in excess of the aggregate stock ownership limit because such holder’s shares of Series C Preferred Stock were not redeemed, or were only redeemed in part, then, except as otherwise provided in Article VII of the Company’s charter, the Company will redeem the requisite number of shares of Series C Preferred Stock of such holder such that no holder will hold a number of shares in excess of the aggregate stock ownership limit subsequent to such redemption.

Unless full cumulative dividends on all shares of Series C Preferred Stock for all past Series C Cash Dividend Periods that have ended will have been or contemporaneously are declared and paid in cash or shares of common stock or declared and a sum sufficient for the payment thereof is set apart for payment, (i) no shares of Series C Preferred Stock will be redeemed at the option of the Company in connection with a Change of Control unless all outstanding shares of