Company: NXDT
Filing Date: 2025-06-12
Form Type: S-4
Source: 0001437749-25-020201
Chunk: 121

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-06-12
Form: S-4
Chunk 121
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 will have occurred after the date that the holder became a holder of New Series B Preferred Stock and (D) the condition causing the disability will have occurred before the holder reached full retirement age, which is the age at which workers can claim full Social Security retired-worker benefits. New NXDT may in its discretion request from the holder, and the holder must promptly provide, reasonable documentation supporting the satisfaction of the foregoing conditions.

If a holder of New Series B Preferred Stock causes New NXDT to redeem such New Series B Preferred Stock pursuant to an optional redemption following death or qualifying disability, for so long as the New Common Stock is listed or admitted to trading on the NYSE or another national securities exchange or automated quotation system, New NXDT has the right, in its sole discretion, to pay the redemption price in cash or in equal value of New Common Stock, based on the closing price per share of the New Common Stock for the single trading day prior to the date of redemption.

New NXDT’s ability to redeem New Series B Preferred Stock in cash may be limited to the extent that it does not have sufficient funds available to fund such cash redemption. Further, New NXDT’s obligation to redeem any of the New Series B Preferred Stock submitted for redemption in cash may be restricted by Maryland law. No redemptions of New Series B Preferred Stock will be made at such time as the terms and provisions of any agreement to which New NXDT is 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.

Redemption of the New Series B Preferred Stock will be made following death or qualifying disability upon delivery by the holder of a duly completed notice to New NXDT or through the procedures of DTC, which will be irrevocable except upon written consent of New NXDT, in compliance with the requirements above and the Stated Transfer Procedures. The redemption date for shares to be redeemed at the option of a holder following death or qualifying disability will be a date selected by New NXDT in its discretion that is within 45 days of the date New NXDT receives a redemption notice from the holder.

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Optional Redemption by New NXDT

Beginning on the first day of the first quarter following the second anniversary of the Original Issue Date of the shares of New Series B Preferred Stock to be redeemed, New NXDT will have the right (but not the obligation) to redeem all or some portion of outstanding New Series B Preferred