NexPoint Storage Partners, Inc. announced that it will issue 1,655,000 series E Preferred stock for gross proceeds of $150,000,000 in funding on March 20, 2023. The company will issue securities pursuant to exemption provided under Regulation D. The company intends to continue the transaction for more than one year. The shares are convertible into common shares of the company at their original issue price.

The shares carry parctipating cumulative dividend of 4% per annum of initial liquidation preference, Ifthe Series E Preferred Stock is not redeemed prior to January 1, 2030, then beginning on January 1, 2030, the cumulative cash dividends on the Series E Preferred Stock shall increase to a rate of 8.0% per annum of the Initial Liquidation Preference. The share issued are redeemable. The shares are issued at a par value of $0.01 per share.