Nexpoint Withdraws Offer To Purchase Shares Of United Develo...| MENAFN.COM

Friday, 30 September 2022 09:55 GMT

Nexpoint Withdraws Offer To Purchase Shares Of United Development Funding IV (UDF IV)'

(MENAFN- PR Newswire)

DALLAS, Sept. 23, 2022 /PRNewswire/ -- NexPoint Advisors, L.P., investment adviser to the NexPoint Diversified Real Estate Trust ('NXDT' and together with affiliated entities 'NexPoint'), has withdrawn its offer to purchase Shares of Beneficial Interest (the 'Shares') of United Development Funding IV ('UDFI' or the 'Company').

The offer, which NexPoint announced on December 14, 2020, was intended to provide liquidity to shareholders who otherwise had few opportunities to sell Shares after Nasdaq delisted the Company in May 2017 and the Securities and Exchange Commission revoked the registration of all classes of registered securities of UDFI in August 2020.

On January 8, 2021, shortly before the initial offer was set to expire, the Company announced that it had reduced the percentage of outstanding Shares that a shareholder may own from 9.8% to 5.0%. NexPoint believes the Company took such action to prevent NexPoint from acquiring any additional Shares. This unilateral action, which is consistent with the Company's pattern of anti-shareholder conduct, ultimately made it impossible for NexPoint to close the offer without extensive legal intervention.

Despite the decision to withdraw the offer, NexPoint remains committed to maximizing the value of its investment in UDFI along with that of thousands of other shareholders. As such, NexPoint is continuing its efforts to hold accountable those individuals and entities that have perpetuated the massive multi-year deception and fraud at the expense of UDFI shareholders. NexPoint will continue to demand financial reporting and an annual shareholder meeting, neither of which has been provided to shareholders for over seven years.

About the NexPoint Diversified Real Estate Trust (NXDT) NexPoint Diversified Real Estate Trust is an externally advised, publicly traded, diversified real estate investment trust (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 . 

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 .


Lucy BannonChief Communications Officer[email protected]

Cristina MartinezProsek Partners for NexPoint[email protected]

SOURCE NexPoint Advisors, L.P.


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.