Press Release: NREF Announces Third Quarter 2024 Results, Provides Fourth Quarter 2024 Guidance

Dow Jones
2024-10-31

Adjusted weighted average common shares outstanding - diluted is calculating by subtracting the dilutive effect of potential redemptions of Series B Preferred shares for shares of our common stock from weighted average common shares outstanding - diluted. We believe providing adjusted weighted average common shares outstanding - diluted to our investors is helpful in their assessment of our performance without the potential dilutive effective of the Series B Preferred shares. We have the right to redeem the Series B Preferred shares for cash or shares of our common stock. Additionally, Series B Preferred redemptions are capped at 2% of the outstanding Series B Preferred shares per month, 5% per quarter and 20% per year. The Company maintains sufficient liquidity to pay cash to cover any redemptions up to the quarterly redemption cap. Further, it is the Company's intent to not settle Series B Preferred redemptions in shares of common stock when the Company's common stock price is below book value.

Adjusted weighted average common shares outstanding -- diluted should not be considered as an alternative to the GAAP measure. Our computation of adjusted weighted average common shares outstanding -- diluted may not be comparable to adjusted weighted average common shares outstanding - diluted reported by other companies.

Contact:

Kristen Griffith

Investor Relations

IR@nexpoint.com

Media: pro-nexpoint@prosek.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/nref-announces-third-quarter-2024-results-provides-fourth-quarter-2024-guidance-302292564.html

SOURCE NexPoint Real Estate Finance, Inc.

 

(END) Dow Jones Newswires

October 31, 2024 08:15 ET (12:15 GMT)

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