On January 8, 2021, UDFI announced that it had reduced the percentage of outstanding Shares that a shareholder may own from 9.8% to 5.0%. The Company took such action in an effort to frustrate the Offer. It also announced it amended the Company's bylaws to require that certain legal actions could be brought on behalf of or against UDFI only in certain courts in Maryland. NexPoint is reviewing these actions and their legality under applicable law.
Shareholders should read the Offer to Purchase and the related materials carefully because they contain important information. Shareholders may obtain a free copy of the Offer to Purchase and the Assignment Form from D.F. King & Co., Inc., the information agent for the Offer (the "Information Agent"), by calling toll-free at (800) 331-7543. THE OFFER WILL EXPIRE AT 12:00 MIDNIGHT, EASTERN TIME, AT THE END OF THE DAY ON SEPTEMBER 23, 2022, UNLESS THE OFFER IS EXTENDED OR EARLIER TERMINATED.
About the NexPoint Diversified Real Estate Trust (NXDT)
The NexPoint Diversified Real Estate Trust $(NXDT)$, formerly the NexPoint Strategic Opportunities Fund (NYSE:NHF), is a diversified REIT that formerly operated as a closed-end fund. The name change became effective on November 8, 2021. On August 28, 2020, shareholders approved the conversion from a closed-end management investment company under the Investment Company Act of 1940 (the "1940 Act") and amended NXDT's fundamental investment policies and restrictions to permit NXDT to operate as a diversified REIT. NXDT completed the repositioning of its investment portfolio sufficient to achieve REIT tax status and operated during its 2021 taxable year, and continues to operate, so that it qualifies for taxation as a REIT. NXDT has also realigned its portfolio so that it is no longer an "investment company" under the 1940 Act. On July 1, 2022, NXDT received an order from the Securities and Exchange Commission (the "SEC") declaring that NXDT has ceased to be an investment company and that its registration under the 1940 Act is no longer in effect (the "Deregistration Order").
For more information visit www.nexpoint.com/nexpoint-strategic-opportunities-fund
About NexPoint Advisors, L.P.
NexPoint Advisors, L.P. is an SEC-registered adviser on the NexPoint alternative investment platform. It serves as the adviser to a suite of funds and investment vehicles, including a closed-end fund, interval fund, business development company, and various real estate vehicles. For more information visit www.nexpoint.com
Risks and Disclosures
This document is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell any common stock of UDFI or any other securities. The offer to purchase common stock of UDFI will only be made pursuant to the Offer to Purchase, the Assignment Form and related documents. THE TENDER OFFER MATERIALS (INCLUDING THE OFFER TO PURCHASE, THE ASSIGNMENT FORM AND CERTAIN OTHER TENDER OFFER DOCUMENTS) WILL CONTAIN IMPORTANT INFORMATION. STOCKHOLDERS OF UDFI ARE URGED TO READ THESE DOCUMENTS CAREFULLY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION THAT SUCH STOCKHOLDERS SHOULD CONSIDER BEFORE MAKING ANY DECISION REGARDING TENDERING THEIR SHARES. Investors and security holders may obtain a free copy of these statements (when available) by directing such requests to the Information Agent, by calling toll-free at (800) 331-7543.
Media Contact
Lucy Bannon
lbannon@nexpoint.com
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SOURCE NexPoint Advisors, L.P.
$(END)$ Dow Jones Newswires
August 23, 2022 18:30 ET (22:30 GMT)