# EDGAR Filing Document

**Accession Number:** 0001903382
**File Stem:** 0001104659-23-024636
**Filing Date:** 2023-2
**Character Count:** 10253
**Document Hash:** 2a9e6f43762da8d5225aca36e2b31dda
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-024636.hdr.sgml**: 20230223

**ACCESSION NUMBER**: 0001104659-23-024636

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20230222

**ITEM INFORMATION**: Unregistered Sales of Equity Securities

**FILED AS OF DATE**: 20230223

**DATE AS OF CHANGE**: 20230223

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Bluerock Homes Trust, Inc.
- **CENTRAL INDEX KEY:** 0001903382
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **IRS NUMBER:** 874211187
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41322
- **FILM NUMBER:** 23658148

**BUSINESS ADDRESS:**
- **STREET 1:** 1345 AVENUE OF THE AMERICAS
- **STREET 2:** 32ND FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10105
- **BUSINESS PHONE:** 2128431601

**MAIL ADDRESS:**
- **STREET 1:** 1345 AVENUE OF THE AMERICAS
- **STREET 2:** 32ND FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10105

?xml version="1.0" encoding="utf-8"?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(** **d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported):** **February 22, 2023**

**Bluerock Homes Trust, Inc.**

(Exact Name of Registrant as Specified in Its Charter)

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| | | |
|:---|:---|:---|
| **Maryland** | **001-41322** | **87-4211187** |
| (State or other jurisdiction of incorporation<br> or organization) | (Commission File Number) | (I.R.S. Employer<br> Identification No.) |

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**1345 Avenue of the Americas, 32nd Floor**

**New York, NY 10105**

(Address of principal executive offices)

**(212) 843-1601**

(Registrant's telephone number, including area code)

**None.**

(Former name or former address, if changed since last report)

**Securities registered pursuant to Section 12(b) of the Exchange Act:**

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| | |
|:---|:---|
| **Title of each class** | **Name of each exchange on which registered** |
| Class A Common Stock, $0.01 par value per share BHM | NYSE American |

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Check the appropriate box below if the Form 8-K/A filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

◻ &nbsp;&nbsp;&nbsp;&nbsp; Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻ &nbsp;&nbsp;&nbsp;&nbsp; Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻ &nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ &nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ⌧

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

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| | |
|:---|:---|
| **ITEM 3.02** | **UNREGISTERED SALES OF EQUITY SECURITIES** |

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***Securities for Services***

<u>Base Management Fee</u>

As previously disclosed in the Form 8-K filed with the Securities and Exchange Commission (the "SEC") on October 6, 2022 by Bluerock Homes Trust, Inc., a Maryland corporation (the "Company"), on October 5, 2022, the Company entered into a Management Agreement (as amended by that certain Amendment to Management Agreement dated January 10, 2023, the "Management Agreement") with its operating partnership, Bluerock Residential Holdings, L.P., a Delaware limited partnership (the "Operating Partnership"), and its external manager, Bluerock Homes Manager, LLC, a Delaware limited liability company (the "Manager"), pursuant to which the Manager administers the business activities and day-to-day operations of the Company. The Management Agreement provides for the quarterly payment of a base management fee to the Manager (the "Base Management Fee") to compensate the Manager for advisory services and certain general management services rendered thereunder, the calculation of which is reviewed by the Company's board of directors (the "Board"), and which is payable either in cash or in long-term incentive plan units of the Operating Partnership ("C-LTIP Units"), at the election of the Board.

The Board, including its independent directors, having reviewed the calculation of the Base Management Fee for the three months ended December 31, 2022 as provided by the Manager, authorized and approved payment of the quarterly installment of the Base Management Fee for the three months ended December 31, 2022 entirely in C-LTIP Units, in a number of C-LTIP Units equal to (i) the dollar amount of the portion of the quarterly installment of the Base Management Fee payable in such C-LTIP Units (calculated by the Manager as $1,787,012), divided by (ii) the average of the closing prices of the Company's Class A common stock, $0.01 par value per share (the "Class A Common Stock"), on the NYSE American on the five business days prior to the date of issuance (the "Q4 Base Management Fee C-LTIP Units").

On February 22, 2023 (the "Issuance Date"), the Manager calculated, as set forth in the Management Agreement, that 85,750 Q4 Base Management Fee C-LTIP Units would be issued to the Manager in payment of the Base Management Fee, and the Operating Partnership issued 85,750 Q4 Base Management Fee C-LTIP Units to the Manager in payment thereof.

The Board authorized the Company, as the General Partner of the Operating Partnership, to cause the Operating Partnership to issue the Q4 Base Management Fee C-LTIP Units to the Manager in reliance upon exemptions from registration provided by Section 4(a)(2) of the Securities Act of 1933 and Regulation D. The Manager has a substantive, pre-existing relationship with the Company and is an "accredited investor" as defined in Regulation D.

The Q4 Base Management Fee C-LTIP Units were fully vested upon issuance, and may convert to units of limited partnership interest in the Operating Partnership ("OP Units") upon reaching capital account equivalency with the OP Units held by the Company, and may then be redeemed for cash or, at the option of the Company and after a one year holding period (including any period during which the Q4 Base Management Fee C-LTIP Units were held), settled in shares of the Company's Class A Common Stock. The Manager will be entitled to receive "distribution equivalents" with respect to the Q4 Base Management Fee C-LTIP Units at the time distributions are paid to the holders of the Company's Class A Common Stock.

<u>Quarterly Expense Reimbursement</u>

Under the Management Agreement, the Manager is entitled to reimbursement from the Company for documented expenses of the Manager and its affiliates incurred on behalf of the Company, the Operating Partnership, and each of their respective subsidiaries (each, a "Company Entity") that are reasonably necessary for the performance by the Manager of its duties and functions thereunder (collectively, "Reimbursable Expenses"), the calculation of which is reviewed by the Board, and which is payable either in cash or in C-LTIP Units, at the election of the Board.

The Board, including its independent directors, having reviewed the calculation of Reimbursable Expenses for the three months ended December 31, 2022 as provided by the Manager, authorized and approved payment of the quarterly installment of Reimbursable Expenses for the three months ended December 31, 2022 entirely in C-LTIP Units, in a number of C-LTIP Units equal to (i) the dollar amount of the portion of the quarterly installment of Reimbursable Expenses payable in such C-LTIP Units (calculated by the Manager as $363,897), divided by (ii) the average of the closing prices of the Class A Common Stock on the NYSE American on the five business days prior to the Issuance Date (the "Q4 Reimbursement C-LTIP Units").

On the Issuance Date of February 22, 2023, the Manager calculated, as set forth in the Management Agreement, that 17,462 Q4 Reimbursement C-LTIP Units would be issued to the Manager in payment of Reimbursable Expenses, and the Operating Partnership issued 17,462 Q4 Reimbursement C-LTIP Units to the Manager in payment thereof.

The Board authorized the Company, as the General Partner of the Operating Partnership, to cause the Operating Partnership to issue the Q4 Reimbursement C-LTIP Units to the Manager in reliance upon exemptions from registration provided by Section 4(a)(2) of the Securities Act of 1933 and Regulation D. The Manager has a substantive, pre-existing relationship with the Company and is an "accredited investor" as defined in Regulation D.

The Q4 Reimbursement C-LTIP Units were fully vested upon issuance, and may convert to OP Units upon reaching capital account equivalency with the OP Units held by the Company, and may then be redeemed for cash or, at the option of the Company and after a one year holding period (including any period during which the Q4 Reimbursement C-LTIP Units were held), settled in shares of the Company's Class A Common Stock. The Manager will be entitled to receive "distribution equivalents" with respect to the Q4 Reimbursement C-LTIP Units at the time distributions are paid to the holders of the Company's Class A Common Stock.

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | **BLUEROCK HOMES TRUST, INC.** | **BLUEROCK HOMES TRUST, INC.** |
| Date: February 23, 2023 | By: | /s/ Christopher J. Vohs |
|  |  | Christopher J. Vohs |
|  |  | Chief Financial Officer and Treasurer |

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