Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 94

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 94
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 to maintain our qualification as a REIT or a special optional redemption in connection
with a Change of Control, Series B Redeemable Preferred Stock may be redeemed by us at our option, either in whole or in part, only
on or after two years from the issuance date. Any decision we make at any time to propose a redemption of any such series of preferred
stock will depend upon, among other things, our evaluation of our capital position and general market conditions at the time. It is likely
that we would choose to exercise our optional redemption right only when prevailing interest rates have declined, which would adversely
affect the ability of holders of shares of the applicable series of preferred stock to reinvest proceeds from the redemption in a comparable
investment with an equal or greater yield to the yield on such series of preferred stock had their shares not been redeemed. In addition,
there is no penalty or premium payable on redemption, and the market price of the shares of such series of preferred stock may not exceed
the liquidation preference at the time the shares become redeemable for any reason.

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Holders of the Series B Redeemable Preferred Stock will be subject to inflation risk.

Inflation
is the reduction in the purchasing power of money resulting from the increase in the price of goods and services. Inflation risk is the
risk that the inflation-adjusted, or “real,” value of an investment in preferred stock or the income from that investment
will be worth less in the future. As inflation occurs, the real value of the Series B Redeemable Preferred Stock and dividends payable
on such shares decline.

Holders of the Series B Redeemable Preferred Stock have extremely limited voting rights.

The
voting rights of holders of shares of Series B Redeemable Preferred Stock will be extremely limited. Our common stock is the only
class or series of our stock carrying full voting rights. Holders of Series B Redeemable Preferred Stock have certain limited voting
rights with respect to amendments to our charter that alter only the contract rights set forth therein of either (a) the Series B
Redeemable Preferred Stock, or (b) of any preferred stock (i) ranking on parity with the Series B Redeemable Preferred
Stock with respect to dividend rights and rights upon our liquidation, dissolution or winding up, and (ii) upon which like voting
rights have also been conferred. Other than in these limited circumstances, holders of Series B Redeemable Preferred Stock will