NexPoint Residential Trust, Inc. Announces Exercise of Option to Purchase Additional Shares and Closing of Public Offering of Common Stock

November 16, 2018

DALLAS, Nov. 16, 2018 /PRNewswire/ -- NexPoint Residential Trust, Inc. (NYSE: NXRT) ("NXRT") announced today the closing of its previously announced public offering of 2,702,500 shares of common stock, including 352,500 shares issued pursuant to the exercise of the underwriters' option to purchase additional shares in full, at a price to the public of $33 per share. The net proceeds from the offering, excluding estimated expenses payable by NXRT and including the proceeds from the exercise of the underwriters' option to purchase additional shares, are approximately $85.5 million.

NXRT intends to contribute the net proceeds from the offering to NexPoint Residential Trust Operating Partnership, L.P., its operating partnership, which in turn intends to use the net proceeds to repay the amount outstanding under its $30 million bridge facility and the amount outstanding under its $60 million credit facility and for general corporate purposes.

Raymond James & Associates, Inc. and Jefferies LLC acted as joint book running managers for the offering. D.A. Davidson & Co. and Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc., served as co-managers.

The offering was made pursuant to a shelf registration statement on Form S-3 that was declared effective by the SEC on April 24, 2017. A prospectus supplement relating to the offering was filed with the SEC.

Copies of the prospectus supplement and the accompanying prospectus related to the offering may be obtained by visiting EDGAR on the Securities and Exchange Commission (the "SEC") website at or from Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, FL 33716, telephone: (800) 248-8863, email: [email protected]; and Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, telephone: (877) 821-7388, email: [email protected]

About NXRT

NexPoint Residential Trust is a publicly traded REIT, with its shares listed on the New York Stock Exchange under the symbol "NXRT," primarily focused on acquiring, owning and operating well-located middle-income multifamily properties with "value-add" potential in large cities and suburban submarkets of large cities, primarily in the Southeastern and Southwestern United States. NXRT is externally advised by NexPoint Real Estate Advisors, L.P., an affiliate of Highland Capital Management, L.P., a leading global alternative asset manager and an SEC-registered investment adviser.

Cautionary Notice Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on management's current expectations, assumptions and beliefs. Forward-looking statements can often be identified by words such as "expect," "anticipate," "estimate," "may," "should," "intend" and similar expressions, and variations or negatives of these words. These forward-looking statements include, but are not limited to, statements regarding the use of proceeds from the offering. They are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statement. Readers should not place undue reliance on any forward-looking statements and are encouraged to review the Company's most recent Annual Report on Form 10-K and other filings with the SEC for a more complete discussion of the risks and other factors that could affect any forward-looking statements. Except as required by law, NXRT does not undertake any obligation to publicly update or revise any forward-looking statements.

Marilynn Meek
Financial Relations Board


Cision View original content:

SOURCE NexPoint Residential Trust, Inc.