Company: NXDT
Filing Date: 2025-04-23
Form Type: S-4/A
Source: 0001437749-25-012810
Chunk: 21

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-04-23
Form: S-4/A
Chunk 21
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. We undertake no obligation to update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes, except as required by law.

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RISK FACTORS</div>

Investing in our securities involves significant risks. In addition to the other information in this proxy statement/prospectus, you should carefully consider the following risks, the specific risks described in our 2024 Annual Report, which is incorporated by reference into this prospectus, and in our other filings with the SEC pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act before making an investment decision. Each of the risks described in these documents could materially and adversely affect our business, financial condition, results of operations and prospects and could result in a partial or complete loss of your investment. See“Incorporation of Certain Information by Reference.”Some statements in this proxy statement/prospectus, including statements in the following risk factors, constitute forward-looking statements. See“Cautionary Note Regarding Forward-Looking Statements.”

Risks Related to the Conversion

If the Conversion is consummated, the benefits expected to be obtained from the Conversion may not be achieved.

Assuming that the Conversion Proposal is approved at the Annual Meeting, we expect the Conversion will take place on or about June 20, 2025. Old NXDT’s Board may, however, defer the timing of the Conversion or may even terminate the Plan of Conversion and abandon the Conversion should it determine that the Conversion would not be advisable and in the best interest of Old NXDT and its shareholders. In the event of such termination and abandonment, the Plan of Conversion will become void and Old NXDT will not have any liability with respect to such termination and abandonment, other than the costs (including legal and accounting fees) incurred in connection with preparing for the Conversion.

We may not be able to obtain the consents or approvals of third parties needed to complete the Conversion on the timetable contemplated, or at all, and we may be forced to make payments, provide indemnifications or make other accommodations in order to facilitate our obtaining requisite consents or implement other strategies that may be disadvantageous to us.

Our ability to undertake the Conversion will depend upon our ability to obtain third party approvals and consents, which include consents and approvals from our lenders and other third parties. There can be no guarantee that we will be able to obtain these consents, or that, if we