Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 120

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 120
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 the extent we make
distributions to stockholders with sources other than cash flow from operations, the amount of cash that is available for investment
in real estate assets will be reduced, which will in turn negatively impact our ability to achieve our investment objectives and
limit our ability to make future distributions.

We will incur increased costs as a result of operating as a public company. If we fail to maintain proper and effective internal controls, our ability to produce accurate and timely financial statements could be impaired, which could result in sanctions or other penalties that would harm our business.

We are subject to the reporting
requirements of the Securities Exchange Act of 1934 (the “Exchange Act”), the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley
Act”), and the rules and regulations of the New York Stock Exchange American (the “NYSE American”). Our financial
results historically were included within the consolidated results of Bluerock Residential, and until the Distribution occurred, we were
not directly subject to reporting and other requirements of the Exchange Act and Section 404 of the Sarbanes-Oxley Act. We currently
qualify as an “emerging growth company.” For so long as we remain an emerging growth company, we will be exempt from Section 404(b) of
the Sarbanes-Oxley Act, which requires auditor attestation to the effectiveness of internal control over financial reporting. We will
cease to be an emerging growth company on the date that is the earliest of (i) the last day of the fiscal year in which we have
total gross annual revenues of $1.235 billion or more; (ii) the last day of our fiscal year following the fifth anniversary
of the date of the Distribution; (iii) the date on which we have issued more than $1 billion in nonconvertible debt during the previous
three years; or (iv) the date on which we are deemed to be a large accelerated filer under the rules of the SEC. We cannot
predict if investors will find our common stock less attractive because we may rely on the exemptions available to us as an emerging
growth company. If some investors find our common stock less attractive as a result, there may be a less active trading market for our
common stock, and our stock price may be more volatile.

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We will, however, be immediately
subject to Section 404(a) of the Sarbanes-Oxley Act,