Company: NREF
Filing Date: 2025-03-14
Form Type: 424B5
Source: 0001437749-25-007771
Chunk: 1

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-03-14
Form: 424B5
Chunk 1
---
, par value $0.01 per share (our “Series A Preferred Stock”), with respect to payment of dividends and distribution of amounts upon liquidation, dissolution or winding up. Holders of our Series B Preferred Stock will have no voting rights except as set forth in the Articles Supplementary establishing the Series B Preferred Stock, including an exclusive voting right on any amendment to our charter in a manner that materially and adversely affects the rights of the holders of Series B Preferred Stock. This prospectus supplement also covers the shares of our common stock that may be issuable upon redemption of the Series B Preferred Stock sold pursuant to this offering.

We are organized and conduct our operations to qualify as a real estate investment trust (a “REIT”) for federal income tax purposes. To assist us in qualifying as a REIT, among other purposes, our charter generally limits any person from beneficially or constructively owning more than 6.2% in value or number of shares, whichever is more restrictive, of the outstanding shares of our common stock or 6.2% in value of the outstanding shares of all classes or series of our stock, including the Series A Preferred Stock and Series B Preferred Stock. See “Description of Capital Stock—Restrictions on Ownership and Transfer” beginning on page 11 of the accompanying prospectus.

Shares of our common stock are listed on the New York Stock Exchange (the “NYSE”) under the symbol “NREF.” On March 13, 2025, the last reported sale price of our common stock on the NYSE was $16.13 per share. There is currently no public trading market for the Series B Preferred Stock, and we do not expect a market to develop. We do not intend to apply for a listing of the Series B Preferred Stock on any national securities exchange.

As part of our “friends and family” program, we may sell shares of Series B Preferred Stock to NexPoint Real Estate Advisors VII, L.P. (our “Manager”), who acts as our external manager, and its affiliates, our directors and officers, the families of or persons or entities having prior relationships with any of the foregoing, or persons who are selected by the dealer manager in consultation with the Company. There will be no selling commissions with respect to any such sales and the dealer manager may in consultation with the Company waive or reduce the dealer manager fee. As a result, the public offering price per share of Series B Preferred Stock sold in our “friends and family” program will be decreased by an amount equal to the discount.