Company: NXDT
Filing Date: 2025-04-11
Form Type: S-4
Source: 0001437749-25-011826
Chunk: 11

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-04-11
Form: S-4
Chunk 11
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 at the Annual Meeting, even if they cannot attend the meeting in person.

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The Annual Meeting will be held exclusively through a virtual format. Please see the other information herein, including the accompanying notice of annual meeting, about how to access the Annual Meeting. As always, we encourage you to vote your shares prior to the Annual Meeting.

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SUMMARY</div>

This summary highlights selected information from this proxy statement/prospectus and may not contain all of the information that is important to you. This summary is qualified in its entirety by, and should be read together with, the other parts of this proxy statement/prospectus and the other documents to which this proxy statement/prospectus refers to fully understand the Conversion. In particular, you should read the annexes attached to this proxy statement/prospectus including the Plan of Conversion, which is attached asAnnex A. You should also read the New NXDT Charter expected to be in effect at the time of the Conversion, attached asAnnex B, which we refer to herein as the New NXDT Charter, and the form of bylaws of New NXDT, attached asAnnex C, which we refer to herein as the New NXDT Bylaws, because these documents, together with Maryland law, will govern your rights as a New NXDT stockholder following the Conversion (assuming the proposal regarding the Conversion is approved). For a discussion of the risk factors that you should carefully consider, see the section titled“Risk Factors”beginning on page 12 of this proxy statement/prospectus and the risk factors described in our Annual Report on 10-K for the year ended December 31, 2024 (the“2024 Annual Report”), which are incorporated by reference herein. You should also consider the other information in this proxy statement/prospectus and the other documents incorporated by reference into this proxy statement/prospectus. See“Where You Can Find More Information.”

Old NXDT

NexPoint Diversified Real Estate Trust
300 Crescent Court, Suite 700
Dallas, Texas 75201
(214) 276-6300

Old NXDT was organized as a statutory trust under the laws of the State of Delaware on March 10, 2006 under the name “Highland Credit Strategies Fund” and changed its name to “NexPoint Diversified Real Estate Trust” in 2021. Old NXDT’s Old Common Shares are currently publicly traded on the New York Stock