Company: NREF
Filing Date: 2025-10-01
Form Type: 424B5
Source: 0001437749-25-030192
Chunk: 7

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-10-01
Form: 424B5
Chunk 7
---
 Any other risks included under Part I, Item 1A, “Risk Factors,” of our Annual Report on Form 10-K filed with the SEC on March 27, 2025, under this Prospectus Supplement under “Risk Factors” on page S-2 and under the Prior Prospectus Supplement under “Risk Factors” beginning on page S-11.

We urge you to carefully consider these risks and review the additional disclosures we make concerning risks and other factors that may materially affect the outcome of our forward-looking statements and our future business and operating results, including those made in this Prospectus Supplement under “Risk Factors,” those made in the Prior Prospectus Supplement under “Risk Factors” and those made in “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2024, as such risk factors may be amended, supplemented or superseded from time to time by other reports we file with the SEC in the future, including subsequent Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, and in any free writing prospectus. We caution you that any forward-looking statements made in this Prospectus Supplement, the Prior Prospectus Supplement, the Prospectus, any free writing prospectus and the documents incorporated herein and therein by reference are not guarantees of future performance, events or results, and you should not place undue reliance on these forward-looking statements, which speak only as of their respective dates. Except as required by law, we expressly disclaim any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any statement is based.

<div align='center'>S-iv</div>

THE OFFERING The following summary is qualified in its entirety by, and should be read together with, the more detailed information and financial statements and related notes thereto appearing elsewhere or incorporated by reference in this Prospectus Supplement, the Prior Prospectus Supplement and the Prospectus. Before you decide to invest in our Series B Preferred Stock, you should read this entire Prospectus Supplement, the Prior Prospectus Supplement and the Prospectus carefully, including the risk factors and the financial statements and related notes included or incorporated by reference in, this Prospectus Supplement, the Prior Prospectus Supplement and the Prospectus.

| Series B Preferred Stock Offered by Us 
 Manner of Offering                     
 Risk Factors                           |     | A maximum of 3,482,858 shares of 9.00%