NexPoint Diversified Real Estate Trust (NXDT)

[Enterprising Investor]

NexPoint Strategic Opportunities Fund (NHF) Announces Name Change to "NexPoint Diversified Real Estate Trust," Provides Update on REIT Conversion (10/28/21)

Common Shares Will Begin Trading Under New Ticker "NXDT" Beginning November 8

DALLAS, Oct. 28, 2021 /PRNewswire/ -- The NexPoint Strategic Opportunities Fund (NYSE:NHF) ("NHF" or the "Company") today announced that it will change its name to "NexPoint Diversified Real Estate Trust" effective November 8, 2021 at 12:01 a.m. Eastern Time. In addition to the name change, NHF will change its ticker to "NXDT." Its common shares will continue trading on the New York Stock Exchange under the new ticker.

The name change is part of the Company's ongoing conversion from a registered investment company to a diversified real estate investment trust ("REIT").

On August 28, 2020, shareholders approved the Company's proposal to convert NHF to a diversified REIT. Following shareholder approval, the Company began transitioning its business and investments to those of a diversified REIT. The Company has since completed the initial repositioning of its investment portfolio sufficient to achieve REIT tax status and is operating during its 2021 taxable year so that it may qualify for taxation as a REIT.

Additionally, management has repositioned NHF's portfolio such that it believes NHF is no longer an "investment company" under the Investment Company Act of 1940 (the "1940 Act"). This enabled the Company to file an amended application for an order from the Securities and Exchange Commission ("SEC") declaring that the Company has ceased to be an investment company (the "Deregistration Order") on September 13, 2021 that reflected NHF's repositioned portfolio.

Following review of the amended application, the SEC may grant the Deregistration Order, which would represent the final step in NHF's business plan to convert to a diversified REIT.

Additional information can be found on the Company's website: https://www.nexpoint.com/nexpoint/funds/nexpoint-strategic-opportunities-fund/.

About the NexPoint Strategic Opportunities Fund (NHF)
The NexPoint Strategic Opportunities Fund (NYSE:NHF) is a closed-end investment company managed by NexPoint Advisors, L.P. that is in the process of converting to a diversified REIT. On August 28, 2020, shareholders approved the conversion proposal and amended the Company's fundamental investment policies and restrictions to permit the Company to pursue its new business. The Company has repositioned its investment portfolio sufficient to achieve REIT tax status and is operating during its 2021 taxable year so that it may qualify for taxation as a REIT. The Company has also repositioned its portfolio such that it believes it is no longer an "investment company" under the 1940 Act and has filed an application with the SEC for a Deregistration Order. While awaiting the Deregistration Order, the Company will continue to be structured as a registered closed-end investment company.

About NexPoint Advisors, L.P.

NexPoint Advisors, L.P. is an SEC-registered investment adviser on the NexPoint alternative investment platform. The NexPoint platform is comprised of a group of investment advisers and sponsors, a broker-dealer, and a suite of related investment vehicles, including public and private real estate investment trusts, tax advantaged real estate vehicles, and closed-end funds.. For more information, visit www.nexpoint.com.

https://www.prnewswire.com/news-releases/nexpoint-strategic-opportunities-fund-nhf-announces-name-change-to-nexpoint-diversified-real-estate-trust-provides-update-on-reit-conversion-301410526.html