NexPoint Responds to United Development Funding IV's (UDF IV) Misleading Claims
Rhea-AI Summary
NexPoint Real Estate Opportunities has issued a letter to United Development Funding IV (UDF IV) shareholders ahead of the upcoming Annual Meeting, addressing misleading statements by UDF IV. NexPoint urges shareholders to vote for its nominees: Paul S. Broaddus, Edward N. Constantino, John A. Good, and Julie Silcock, to implement a plan to maximize value for all shareholders.
NexPoint criticizes UDF IV's current Board for overseeing criminal and fraudulent behavior and eroding shareholder value. While the Annual Meeting date is not yet announced, shareholders can vote using NexPoint's GREEN proxy materials. NexPoint encourages shareholders to visit udfaccountability.com for updates and contact them at udfinvestors@nexpoint.com.
Positive
- NexPoint proposes a plan to maximize shareholder value
- NexPoint offers shareholders a choice for new board members
Negative
- UDF IV's current Board accused of overseeing criminal and fraudulent behavior
- Allegations of shareholder value erosion under current UDF IV management
News Market Reaction
On the day this news was published, NXDT declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vote for NexPoint Nominees to Protect Your Interests and Maximize Value
NexPoint's letter addresses numerous misleading statements by UDF IV intended to distract shareholders from the Board of Trustees' many failures. If elected, NexPoint's nominees will implement a plan to maximize value for all shareholders. NexPoint urges shareholders to vote for much needed change at UDF IV by supporting its nominees: Paul S. Broaddus, Edward N. Constantino, John A. Good, and Julie Silcock, and rejecting UDF IV's current Board, which has overseen criminal and fraudulent behavior and eroded shareholder value.
Shareholders can read the full letter HERE.
While UDF IV has not announced its 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
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SOURCE NexPoint Advisors, L.P.
FAQ
When is UDF IV's Annual Meeting of Shareholders scheduled for 2024?
Who are NexPoint's nominees for UDF IV's Board of Trustees?
How can shareholders vote for NexPoint's nominees for UDF IV?
Where can shareholders find updates about UDF IV and the upcoming Annual Meeting?
