Company: NXDT
Filing Date: 2025-01-30
Form Type: 424B5
Source: 0001437749-25-002263
Chunk: 1

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-30
Form: 424B5
Chunk 1
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, of the aggregate of the outstanding shares of all classes or series of our beneficial interests, including the Series A Preferred Shares and Series B Preferred Shares. See “Description of Capital Shares—Restrictions on Ownership and Transfer” beginning on page 12 of the accompanying prospectus.

Our common shares are listed on the New York Stock Exchange (the “NYSE”) under the symbol “NXDT.” On January 29, 2025, the last reported sale price of our common shares on the NYSE was $5.28 per share. There is currently no public trading market for the Series B Preferred Shares, and we do not expect a market to develop. We do not intend to apply for a listing of the Series B Preferred Shares on any national securities exchange.

As part of our “friends and family” program, we may sell Series B Preferred Shares to the families of or persons or entities having prior relationships with our employees or employees of NexPoint Real Estate Advisors X, L.P. (our “Adviser”), who acts as our external adviser, or persons who are selected by the dealer manager in consultation with the Company. There will be no selling commissions with respect to any such sales and the dealer manager may in consultation with the Company waive or reduce the dealer manager fee. As a result, the public offering price per share of the Series B Preferred Shares sold in our “friends and family” program will be decreased by an amount equal to the discount. The dealer manager in consultation with the Company will make all final determinations regarding whether an individual or entity falls within the friends and family category and whether the dealer manager fee will be waived or reduced, including the extent of any reduction.

We are a“smaller reporting company”under federal securities laws and are subject to reduced public company reporting requirements. Investing in our securities involves a high degree of risk. You should read carefully the section entitledRisk Factorsbeginning on page S-12 of this prospectus supplement and the risks set forth under the caption“Item 1A. Risk Factors”in our most recent Annual Report on Form 10-K and our most recent Quarterly Report on Form 10-Q, as well as additional risks that may be described in future reports or information that we file with the Securities and Exchange Commission (the“SEC”), which are incorporated by reference in this prospectus supplement and the accompanying prospectus.

Neither the SEC nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus supplement or the accompanying prospectus