04/17/2025 | Press release | Distributed by Public on 04/17/2025 14:32
NexPoint Hospitality Trust Completes Going Private Transaction with NexPoint Diversified Real Estate Trust
DALLAS and TORONTO, April 17, 2025 -- NexPoint Hospitality Trust (the "REIT") (TSX-V: NHT.U) and NexPoint Diversified Real Estate Trust (NYSE: NXDT) ("NXDT") today announced the closing (the "Closing") of the previously announced transaction whereby the REIT was dissolved and its subsidiary entities merged with and into entities owned or controlled, directly or indirectly, by NXDT (the "Transaction").
Pursuant to the terms of the Transaction, REIT unitholders (the "Unitholders") were able to elect to receive, per trust unit of the REIT (each, a "Unit"), either US$0.36 cash or one (1) common share of NHT Hospitality, Inc., which was subsequently converted into a number of common shares of NXDT (the "NXDT Common Shares") equal to the quotient of US$0.36 divided by the volume weighted average price of the NXDT Common Shares quoted on the New York Stock Exchange for the ten (10) trading days prior to Closing. Unitholders that did not submit an election will receive NXDT Common Shares in exchange for their Units.
With the completion of the Transaction, the Units will cease trading on the TSX Venture Exchange (the "TSXV") and be delisted from the TSXV at the close of trading on April 22, 2025.
For more information on the Transaction, please see the joint news releases issued by the REIT and NXDT on November 25, 2024, February 14, 2025 and April 15, 2025 along with the REIT's management information circular prepared in connection with the Transaction, all of which are available on SEDAR+.
About NXDT
NexPoint Diversified Real Estate Trust (NYSE: NXDT) is an externally advised, publicly traded, diversified REIT focused on the acquisition, development, and management of opportunistic and value-add investments throughout the United States across multiple sectors where NexPoint and its affiliates have operational expertise. NXDT is externally advised by NexPoint Real Estate Advisors X, L.P. For more information, please visit nxdt.nexpoint.com.