NexPoint Real Estate Trust Files 8-K for Material Agreement
Ticker: NXDT-PA · Form: 8-K · Filed: Jul 22, 2024 · CIK: 1356115
Sentiment: neutral
Topics: material-definitive-agreement, financial-statements, exhibits
Related Tickers: NXDT
TL;DR
NXDT signed a big deal, check the 8-K for details.
AI Summary
On July 22, 2024, NexPoint Diversified Real Estate Trust entered into a material definitive agreement. The filing also includes financial statements and exhibits related to this agreement. The company, formerly known as NexPoint Strategic Opportunities Fund, is incorporated in Delaware.
Why It Matters
This filing indicates a significant new contract or partnership for NexPoint Diversified Real Estate Trust, which could impact its future operations and financial performance.
Risk Assessment
Risk Level: medium — Material definitive agreements can introduce new risks or opportunities that may affect the company's financial health and stock performance.
Key Players & Entities
- NexPoint Diversified Real Estate Trust (company) — Registrant
- July 22, 2024 (date) — Date of earliest event reported
- NexPoint Strategic Opportunities Fund (company) — Former company name
- Delaware (location) — State of incorporation
FAQ
What is the nature of the material definitive agreement entered into by NexPoint Diversified Real Estate Trust?
The filing does not specify the exact nature of the material definitive agreement, only that one was entered into on July 22, 2024.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on July 22, 2024.
What were NexPoint Diversified Real Estate Trust's former names?
NexPoint Diversified Real Estate Trust was formerly known as NexPoint Strategic Opportunities Fund, NexPoint Credit Strategies Fund, and Pyxis Credit Strategies Fund.
In which state is NexPoint Diversified Real Estate Trust incorporated?
NexPoint Diversified Real Estate Trust is incorporated in Delaware.
What other items are included in this 8-K filing besides the material definitive agreement?
This 8-K filing also includes financial statements and exhibits.
Filing Stats: 848 words · 3 min read · ~3 pages · Grade level 13.6 · Accepted 2024-07-22 16:30:51
Key Financial Figures
- $0.001 — on which registered Common Shares , $0.001 par value $0.001 per share 5.50% Serie
- $25.00 — ed Shares , par value $0.001 per share ($25.00 liquidation preference per share) NXDT
Filing Documents
- nexsof20240722_8k.htm (8-K) — 29KB
- ex_701444.htm (EX-10.1) — 22KB
- 0001437749-24-023189.txt ( ) — 201KB
- nxdt-20240722.xsd (EX-101.SCH) — 4KB
- nxdt-20240722_def.xml (EX-101.DEF) — 13KB
- nxdt-20240722_lab.xml (EX-101.LAB) — 17KB
- nxdt-20240722_pre.xml (EX-101.PRE) — 13KB
- nexsof20240722_8k_htm.xml (XML) — 5KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. Amendment to the Advisory Agreement On July 22, 2024, NexPoint Diversified Real Estate Trust (the "Company") and NexPoint Real Estate Advisors X, L.P. (the "Adviser") entered into an amendment (the "Advisory Agreement Amendment") to the Advisory Agreement, dated July 1, 2022, by and between the Company and the Adviser (the "Advisory Agreement"), as amended by that First Amendment to Advisory Agreement, dated October 25, 2022, and as further amended by that Second Amendment to Advisory Agreement, dated April 11, 2023. The Advisory Agreement Amendment changes the structure of the fees which the Company pays to the Adviser each month such that the monthly installment of the administrative fee shall be paid in cash and the monthly installment of the advisory fee shall be paid one-half in cash and one-half in common shares, par value $0.001 per share, of the Company ("Common Shares"), subject to certain restrictions, including that in no event shall the Common Shares issued to the Adviser under the Advisory Agreement exceed five percent of the number of Common Shares or five percent of the voting power of the Company outstanding prior to the first such issuance (the "Share Cap") and that in no event shall the Common Shares issued to the Adviser under the Advisory Agreement exceed 6,000,000 Common Shares; provided, however, that the Share Cap will not apply if the Company's shareholders have approved issuances in excess of the Share Cap. In compliance with the Corporation's Related Party Transaction Policy, the Advisory Agreement Amendment was reviewed and approved by the Audit Committee of the Board of Trustees of the Company. The description of the material terms of the Advisory Agreement Amendment is qualified in its entirety by reference to the Advisory Agreement Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is hereby incorporated by reference into this Item 1.01. For addit
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. Exhibit Number Exhibit Description 10.1 Third Amendment to Advisory Agreement of NexPoint Diversified Real Estate Trust 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES 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. NEXPOINT DIVERSIFIED REAL ESTATE TRUST /s/ Brian Mitts Name: Brian Mitts Title: Chief Financial Officer, Executive VP- Finance, Treasurer and Assistant Secretary Date: July 22, 2024