Company: NREF
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001437749-25-033056
Chunk: 40

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-11-04
Form: 424B5
Chunk 40
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 option of the holder will be entitled to an amount equal to the dividends accruing after the end of the Series C Cash Dividend Period to which such dividend payment date relates, up to but not including, the redemption date.

If a holder of Series C Preferred Stock causes the Company to redeem such shares of Series C Preferred Stock pursuant to a redemption at their option, for so long as our common stock is listed or admitted to trading on the NYSE, the NYSE Texas or another national securities exchange or automated quotation system, we have the right, in our sole discretion, to pay the redemption price in cash or in equal value of shares of our common stock, based on the closing price per share of our common stock for the single trading day prior to the date of redemption.

Our ability to redeem shares of Series C Preferred Stock in cash may be limited to the extent that we do not have sufficient funds available to fund such cash redemption. Further, our obligation to redeem any of the shares of Series C Preferred Stock submitted for redemption in cash may be restricted by Maryland law. No redemptions of shares of Series C Preferred Stock will be made at such time as the terms and provisions of any agreement to which we are a party prohibits such redemption or provides that such redemption would constitute a breach thereof or a default thereunder, or if such redemption would result in a Change of Control (as defined below).

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In addition, aggregate optional redemptions by holders of the Series C Preferred Stock will be subject to the following redemption limits: (i) no more than 2% of the outstanding Series C Preferred Stock will be redeemed per calendar month; (ii) no more than 5% of the outstanding Series C Preferred Stock will be redeemed per fiscal quarter; and (iii) no more than 20% of the outstanding Series C Preferred Stock will be redeemed per fiscal year.

Redemptions pursuant to an optional redemption by the Company or in connection with a Change of Control (described below) will not count toward the 2%/5%/20% limits applied to optional redemptions by holders of the Series C Preferred Stock. Optional redemptions following death or qualifying disability of a holder (described below) will count toward the 2%/5%/20% limits but will not be subject to such limits.

If, after applying these redemption limits, a holder would own less than one share of Series C Preferred Stock, all of such holder’s shares of Series C Preferred Stock will be