DALLAS, Nov. 2, 2023
/PRNewswire/ -- NexPoint Real Estate Finance, Inc. (NYSE: NREF)
("NREF" or the "Company") announced today the launch of a
continuous public offering of up to 16,000,000 shares of its new
designated 9.0% Series B Cumulative Redeemable Preferred Stock (the
"Series B Preferred Stock") at a price to the public of
$25.00 per share, for gross proceeds
of $400 million.1
NREF is a commercial mortgage real estate investment trust
(REIT) that is primarily focused on investments in real estate
sectors where its senior management team has operating expertise,
including in the multifamily, single-family rental, self-storage,
and life sciences sectors, predominantly in the top 50 metropolitan
statistical areas. The Company intends to use the net proceeds for
general corporate purposes, which may include funding investments
and repaying amounts outstanding under our debt obligations.
NexPoint Securities, Inc., an affiliate of NexPoint Real Estate
Advisors VII, L.P., who acts as NREF's external manager, will serve
as the Company's dealer manager in connection with the offering.
The Series B Preferred Stock is being offered by NexPoint
Securities on a "reasonable best efforts" basis. There is no public
market for the Series B Preferred Stock and the Company does not
intend to apply for a listing of the Series B Preferred Stock on
any national securities exchange.
The Company expects that the offering will terminate on the
earlier of the date the Company sells all 16,000,000 shares of the
Series B Preferred Stock in the offering or March 14, 2025 (which is the third anniversary of
the effective date of the Company's registration statement), which
may be extended by the Company's board of directors in its sole
discretion. The board of directors may elect to terminate this
offering at any time.
The offering is being conducted as a public offering under the
Company's effective shelf registration statement, filed with the
SEC (File No. 333-263300), which became effective on March 14, 2022. To obtain a copy of the final
prospectus supplement and the related base prospectus for this
offering, please contact by mail, telephone or email: NexPoint
Securities, Inc., member FINRA/SIPC, 200 Crescent Court, Suite 700,
Dallas, Texas, 75201, Attn:
Investor Relations, telephone: (833) 697-7253, or
email: ir@nexpoint.com. You may also get these documents for
free by visiting EDGAR on the SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or other jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
other jurisdiction.
About NexPoint Real Estate Finance, Inc.
NREF. is a publicly traded REIT with its common stock listed on
the New York Stock Exchange under the symbol "NREF." NREF is
primarily focused on originating, structuring and investing in
first-lien mortgage loans, mezzanine loans, preferred equity,
convertible notes, multifamily properties and common stock
investments, as well as multifamily commercial mortgage-backed
securities securitizations, multifamily structured credit risk
notes and mortgage-backed securities.
Forward-Looking and Cautionary Statements
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements include statements regarding the
termination of the offering, the Company's intent not to list the
Series B Preferred Stock and other statements identified by words
such as "expect," "intend," the negative version of these words and
similar expressions that do not relate solely to historical
matters. Forward-looking statements are based on NREF's current
expectations and assumptions regarding capital market conditions,
NREF's business, the economy and other future conditions.
Forward-looking statements are subject to risks, uncertainties and
assumptions and may be affected by known and unknown risks, trends,
uncertainties and factors that are beyond NREF's control. Should
one or more of these risks or uncertainties materialize, or should
underlying assumptions prove incorrect, actual results may vary
materially from those anticipated, estimated or projected.
Important factors that could cause actual results to differ
materially from those in the forward-looking statements include
regional, national or global political, economic, business,
competitive, market and regulatory conditions, and those described
in greater detail in our filings with the Securities and Exchange
Commission, particularly those described in our Annual Report on
Form 10-K and Quarterly Reports on Form 10-Q. Readers should not
place undue reliance on any forward-looking statements and are
encouraged to review the Company's Annual Report on Form 10-K and
the Company's other filings with the SEC for a more complete
discussion of risks and other factors that could affect any
forward-looking statement. Any forward-looking statement made in
this press release speaks only as of the date on which it is made.
NREF undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future developments or otherwise, except as required by law.
CONTACTS:
Investor Relations
Kristen
Thomas
Ir@nexpoint.com
Media Relations
Prosek Partners for NexPoint
pro-nexpoint@prosek.com
1 Gross proceeds calculated before deducting dealer
manager fees and selling commissions and other estimated offering
expenses.
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SOURCE NexPoint Real Estate Finance, Inc.
