Company: NXDT
Filing Date: 2025-04-23
Form Type: S-4/A
Source: 0001437749-25-012810
Chunk: 211

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-04-23
Form: S-4/A
Chunk 211
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 the Series B Stated Value; |

| • | Beginning on the first day of the month following the fourth anniversary of the Original Issue Date of the shares to be redeemed: 0% of the Series B Stated Value. |

If a redemption date for a redemption at the option of the holder falls after a dividend record date and prior to the corresponding dividend payment date, each holder of record of New Series B Preferred Stock at the close of business on such dividend record date will be entitled to the dividend payable on such stock on the corresponding dividend payment date notwithstanding the redemption of such stock on or prior to such dividend payment date, and each holder of New Series B Preferred Stock that will be redeemed at the option of the holder will be entitled to an amount equal to the dividends accruing after the end of the Series B Dividend Period to which such dividend payment date relates, up to but not including, the redemption date.

If a holder of New Series B Preferred Stock causes New NXDT to redeem such New Series B Preferred Stock pursuant to a redemption at their option, 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 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.

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