Vote for NexPoint Nominees to Protect
Shareholders' Interests and Maximize Value
DALLAS, Nov. 21,
2024 /PRNewswire/ -- NexPoint Real Estate
Opportunities, LLC (together with its affiliates "NexPoint")
announced today that it has sent a mailing 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.
- Shareholders can review the full mailing here.
UDF IV continues to provide a misleading account of the actions
of UDF IV's current Trustees that ignores their role in extensive
misdeeds that have damaged shareholders. At the same time, UDF IV
continues to mischaracterize NexPoint and its nominees.
The UDF IV Board's egregious actions speak for themselves. The
mailing considers how some of the current Trustees' actions to date
have impacted shareholders.
For example, the current Board:
- Allowed UDF IV to go eight years without an annual
meeting;
- Changed the Company bylaws to avoid standing for
reelection;
- Allowed UDF IV to go eight years without issuing any
financial statements;
- Actively fought NexPoint's efforts to force an annual
meeting, election of all independent trustees, and any level of
financial transparency;
- Approved use of shareholder funds to pay former executives'
SEC-ordered disgorgement;
- Approved use of shareholder funds to pay for former
executives' criminal defense;
- Has taken no action against the Company's advisor for
defrauding UDF IV shareholders, which continues to enrich former
executives while they serve prison sentences;
- Permitted UDF IV's loan portfolio to become dangerously
concentrated around a single borrower, representing 98% of the
Company's unaffiliated debt; and
- Inexplicably, and without any justification, allowed over
$100 million in loans to be
extended, permitting the advisor to drain tens of millions of
dollars in management fees for years to come.
Shareholders finally have the chance to replace the current
Trustees by voting FOR NexPoint's nominees. Voting information can
be found here.
Shareholders are encouraged to vote FOR NexPoint's
nominees 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
Voting Assistance
Email: info@okapipartners.com
Phone: (212) 297-0720
General Inquiries
Email: udfinvestors@nexpoint.com
Media Relations
Email: nexpointteam@reevemark.com
Investor Relations
Email: ir@nexpoint.com
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SOURCE NexPoint Advisors, L.P.
