Urges Shareholders to Vote for Board Change by Supporting NexPoint Nominees
DALLAS, Sept. 3, 2024 /PRNewswire/ — NexPoint Real Estate Opportunities, LLC (together with its affiliates “NexPoint”) announced today that it has sent a letter to fellow shareholders of United Development Funding IV (“UDF IV” or the “Company”), a real estate investment trust, ahead of the Company’s upcoming Annual Meeting of Shareholders, which must be held on or before December 31, 2024.
In its letter, NexPoint urges shareholders to consider the numerous red flags around UDF IV’s current Board of Trustees before voting in the Trustee election. Given the incumbent Trustees’ track record on the Board, which includes presiding over fraud and value destruction, among other offenses, NexPoint encourages shareholders to vote for change by supporting NexPoint nominees: Paul S. Broaddus, Edward N. Constantino, John A. Good, and Julie Silcock.
Shareholders can read the full letter here.
While the Company has not announced an Annual Meeting date, shareholders can vote TODAY using NexPoint’s GREEN proxy materials to enact long overdue change and elect Trustees who will work for all shareholders to maximize value at UDF IV.
NexPoint encourages shareholders to visit udfaccountability.com and complete the contact form to receive ongoing updates about the Company and the upcoming Annual Meeting.
Shareholders can also contact NexPoint via email at udfinvestors@nexpoint.com.
About NexPoint
NexPoint Real Estate Opportunities, LLC is a wholly owned subsidiary of NexPoint Diversified Real Estate Trust, Inc. (NYSE: NXDT), an affiliate of 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
IMPORTANT INFORMATION
NexPoint Real Estate Opportunities, LLC (“NexPoint”) intends to deliver a proxy statement with respect to its solicitation of proxies for nominees to be elected to the United Development Funding IV (“UDF IV”) Board of Trustees at the Annual Meeting of Shareholders of UDF IV. The date for the Annual Meeting has not yet been set and NexPoint is not soliciting proxies at this time. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE NEXPOINT PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) WHEN AVAILABLE IN ITS ENTIRETY BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION ABOUT ANY SOLICITATION. Copies of the documents will be made available free of charge from NexPoint by accessing the website www.udfaccountability.com.
NexPoint, its affiliates, their directors and executive officers and other members of management and employees may be participants (collectively “Participants”) in the solicitation of proxies by NexPoint. Information about NexPoint’s nominees to the UDF IV Board of Trustees and information regarding the direct or indirect interests in UDF IV, by security holdings or otherwise, of NexPoint, the other Participants and NexPoint’s nominees will be available in the proxy statement. NexPoint’s disclosure of any security holdings will be based on information made available to NexPoint by such Participants and nominees. UDF IV is no longer subject to the reporting requirements of the Securities Exchange Act of 1934, as amended. Consequently, NexPoint’s knowledge of significant security holders of UDF IV and as to UDF IV itself is limited.
CONTACT INFORMATION
UDF IV Investor Contacts
Chuck Garske / Jeremy Provost / Theo Caminiti (Okapi Partners):
Email: info@okapipartners.com
Phone: (212) 297-0720
For Additional Information/Updates on UDF IV
Website: www.udfaccountability.com
Email: udfinvestors@nexpoint.com
Media Contacts
Lucy Bannon (NexPoint): lbannon@nexpoint.com
Paul Caminiti/Pamela Greene (Reevemark): nexpointteam@reevemark.com
NexPoint Investor Relations
Kristen Thomas: ir@nexpoint.com
SOURCE NexPoint Advisors, L.P.
