Offerings // NexPoint Real Estate Finance, Inc.

NREF offering history

Every offering-related filing in NexPoint Real Estate Finance, Inc.’s recent SEC record — registrations (announced capacity) kept separate from pricing documents (executed sales). Reviewed 453 filings back to Sep 13, 2019.

Last executed offering

Nov 4, 2025

424B5 — priced deal (shares or notes)

Last registration (announced)

Dec 20, 2023

S-3 — capacity, not a sale

Executed, last 12 months

424B pricings + 8-K 3.02 sales

Registered, last 12 months

S-1/S-3/F-series registrations

Date	Filing		What it means
Nov 4, 2025	424B5 →	EXECUTED	Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)
Nov 4, 2025	FWP →	MARKETING	Free-writing prospectus — offering being marketed
Nov 4, 2025	FWP →	MARKETING	Free-writing prospectus — offering being marketed
Nov 4, 2025	FWP →	MARKETING	Free-writing prospectus — offering being marketed
Oct 1, 2025	424B5 →	EXECUTED	Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)
Oct 1, 2025	FWP →	MARKETING	Free-writing prospectus — offering being marketed
Oct 1, 2025	FWP →	MARKETING	Free-writing prospectus — offering being marketed
Oct 1, 2025	FWP →	MARKETING	Free-writing prospectus — offering being marketed
Mar 14, 2025	424B5 →	EXECUTED	Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)
Mar 14, 2025	424B5 →	EXECUTED	Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)
Mar 14, 2025	FWP →	MARKETING	Free-writing prospectus — offering being marketed
Mar 14, 2025	FWP →	MARKETING	Free-writing prospectus — offering being marketed
Mar 14, 2025	FWP →	MARKETING	Free-writing prospectus — offering being marketed
Sep 3, 2024	424B5 →	EXECUTED	Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)
Dec 29, 2023	EFFECT →	EFFECTIVE	SEC declared a registration effective — selling can begin
Dec 22, 2023	FWP →	MARKETING	Free-writing prospectus — offering being marketed
Dec 22, 2023	FWP →	MARKETING	Free-writing prospectus — offering being marketed
Dec 20, 2023	S-3 →	REGISTERED	S-3 registration — capacity to sell shares, not a sale yet
Nov 2, 2023	424B5 →	EXECUTED	Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)
Nov 2, 2023	FWP →	MARKETING	Free-writing prospectus — offering being marketed
Nov 2, 2023	FWP →	MARKETING	Free-writing prospectus — offering being marketed
Dec 23, 2022	8-K →	EXECUTED	Unregistered share sale disclosed (8-K item 3.02)
Mar 15, 2022	424B5 →	EXECUTED	Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)
Mar 14, 2022	EFFECT →	EFFECTIVE	SEC declared a registration effective — selling can begin
Mar 4, 2022	S-3 →	REGISTERED	S-3 registration — capacity to sell shares, not a sale yet
Jan 24, 2022	424B5 →	EXECUTED	Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)
Jan 21, 2022	424B5 →	EXECUTED	Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)
Jan 21, 2022	FWP →	MARKETING	Free-writing prospectus — offering being marketed
Jan 10, 2022	8-K →	EXECUTED	Unregistered share sale disclosed (8-K item 3.02)
Dec 17, 2021	FWP →	MARKETING	Free-writing prospectus — offering being marketed
Dec 17, 2021	424B5 →	EXECUTED	Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)
Dec 16, 2021	424B5 →	EXECUTED	Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)
Sep 9, 2021	8-K →	EXECUTED	Unregistered share sale disclosed (8-K item 3.02)
Aug 19, 2021	424B5 →	EXECUTED	Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)
Aug 17, 2021	424B5 →	EXECUTED	Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)
Apr 15, 2021	424B5 →	EXECUTED	Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)
Apr 13, 2021	424B5 →	EXECUTED	Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)
Apr 13, 2021	FWP →	MARKETING	Free-writing prospectus — offering being marketed
Apr 1, 2021	424B5 →	EXECUTED	Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)
Mar 31, 2021	EFFECT →	EFFECTIVE	SEC declared a registration effective — selling can begin

NREF offering-related filings from SEC EDGAR, newest first (capped at 40). Each links to the original document.

Two honest limits. (1) A 424B takedown can price shares or notes— EDGAR’s metadata doesn’t say which, so open the document: large investment-grade filers use these mostly for bond deals (no dilution), small-caps mostly for shares. (2) At-the-market (ATM) programs sell shares gradually and individual sales are not separately filed — the visible footprint is the enabling shelf and its 424B5; actual ATM share counts surface later in the 10-Q/10-K share count. Educational information from public filings, not investment advice.

Is a shelf active now? →Do they need money? →Red flags →Full NREF workspace →

NREF offering FAQ

When did NREF last execute an offering?

Per SEC filings, NexPoint Real Estate Finance, Inc.'s most recent priced offering document is a 424B5 filed 2025-11-04. Note a 424B takedown can price shares or notes (debt) — the linked document says which.

When did NREF last announce or register an offering?

The most recent registration is a S-3 filed 2023-12-20. A registration is capacity to sell shares — not a sale.

Does an offering always mean dilution?

Registered direct offerings and shelf takedowns issue new shares and dilute existing holders. Resale registrations (424B3/B7) let existing holders sell and do not create new shares. Secondary sales by insiders also do not dilute. Each row here is labeled with what it is.