Company: NXDT
Filing Date: 2025-06-12
Form Type: S-4
Source: 0001437749-25-020201
Chunk: 20

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-06-12
Form: S-4
Chunk 20
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 A Preferred Shares, voting as a single class, present or represented by proxy at Old NXDT’s annual shareholder meeting and entitled to vote on the proposal to approve the Conversion. Old NXDT’s shareholders voted to approve the conversion on June 10, 2025. However, Old NXDT’s shareholders have approved the Conversion, the Board may terminate the Conversion if the Board determines that the Conversion is no longer advisable and in the best interest of Old NXDT and its shareholders or may defer the timing of the Conversion. The Board may deem the Conversion to be inadvisable if, among other things:

| ● | the NYSE has not approved the listing of the shares of New Common Stock and New Series A Preferred Stock to be issued in connection with the Conversion, subject to official notice of issuance; or |

| ● | necessary consents or approvals from lenders are not obtained. |

We have no current intention of abandoning the Conversion.

Regulatory Approvals

In connection with the issuance of the New Stock, we must file a registration statement with the SEC under the Securities Act, of which this prospectus forms a part, that is declared effective by the SEC.

Absence of Dissenters’(or Appraisal) Rights

Pursuant to Delaware law and the Declaration of Trust, Old NXDT shareholders will not be entitled to dissenters’ rights of appraisal in connection with, or as a result, of the Conversion.

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Restrictions on Transfer of New Stock Issued as a Result of the Conversion

The shares of New Stock to be issued in connection with the Conversion will, subject to restrictions on ownership and transfer of New Stock set forth in the New NXDT Charter, be freely transferable under the Securities Act, except for shares issued to any stockholder who may be deemed to be an “affiliate” of New NXDT for purposes of Rule 144 promulgated under the Securities Act. Persons who may be deemed to be affiliates include individuals or entities that control, are controlled by, or are under the common control with, New NXDT and may include executive officers, directors and significant stockholders of New NXDT. Shares of New Stock will be subject to restrictions on ownership and transfer set forth in the New NXDT Charter including, subject to certain exceptions, a limitation on ownership by any person of more than 9.8% in value of the aggregate of the outstanding shares of the stock of New NXDT of any class or series, or 9.8%, in value