Company: NXDT
Filing Date: 2025-04-23
Form Type: S-4/A
Source: 0001437749-25-012810
Chunk: 194

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-04-23
Form: S-4/A
Chunk 194
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 or any other stock of New NXDT ranking junior to the New Series A Preferred Stock as to the payment of dividends and the distribution of assets upon liquidation (except by conversion into or exchange for stock of New NXDT ranking junior to the New Series A Preferred Stock as to dividends and distributions of assets upon liquidation), unless, in each case, all cumulative dividends and distributions on all New Series A Preferred Stock due on or prior to the date of the transaction have been declared and paid (or have been declared and sufficient funds for the payment thereof deposited with the applicable Dividend Disbursing Agent (as defined in the New NXDT Charter)).

Any dividend payment made on the New Series A Preferred Stock will first be credited against the dividends and distributions accumulated with respect to the earliest Series A Dividend Period for which dividends and distributions have not been paid.

Not later than the business day immediately preceding each Series A Dividend Payment Date, New NXDT will deposit with the Dividend Disbursing Agent Deposit Assets (as defined in the New NXDT Charter) having an initial combined value sufficient to pay the dividends and distributions that are payable on such Series A Dividend Payment Date, which Deposit Assets will mature (if such assets constitute debt securities or time deposits) on or prior to such Series A Dividend Payment Date (the “Requisite Deposit”). New NXDT may direct the Dividend Disbursing Agent with respect to the investment of any such Deposit Assets, provided that such investment consists exclusively of Deposit Assets and provided further that the proceeds of any such investment will be available at the opening of business on such Series A Dividend Payment Date.

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Liquidation Rights

In the event of any liquidation, dissolution, termination, cancellation or winding up of the affairs of New NXDT, whether voluntary or involuntary, the holders of New Series A Preferred Stock will be entitled to receive out of the assets of New NXDT available for distribution to stockholders, after satisfying claims of creditors but before any distribution or payment will be made in respect of the New Common Stock or any other stock of New NXDT ranking junior to the New Series A Preferred Stock as to liquidation payments, the Series A Liquidation Preference plus an amount equal to all unpaid dividends and distributions accumulated to and including the date fixed for such distribution or payment (whether or not earned or declared by New NXDT, but excluding interest thereon), and such holders will be entitled to no further participation in any distribution or payment in connection with any such