Company: RWT-PA
Filing Date: 2025-11-07
Form Type: 424B5
Source: 0001104659-25-108580
Chunk: 10

Company: REDWOOD TRUST INC
Filing Date: 2025-11-07
Form: 424B5
Chunk 10
---
 of our common stock. See “Restrictions on Ownership and Transfer and Repurchase of Shares” on page 24of the accompanying prospectus.

<div align='center'>S-2</div>

TABLE OF CONTENTS

### RISK FACTORS
Investing in the shares of common stock being offered by this prospectus supplement and the accompanying prospectus involves a high degree of risk. Before deciding whether to invest in our common stock, you should consider carefully the risk factors described below, the risk factors incorporated herein by reference to our most recent Annual Report on Form 10-K filed with the SEC and the risk factors contained in any free writing prospectus that we have authorized for use in connection with this offering. If any of these risks actually occur, it may materially harm our business, financial condition, operating results or cash flow. As a result, the market price of our common stock could decline, and you could lose part or all of your investment. Additional risks and uncertainties that are not yet identified or that we think are immaterial may also materially harm our business, operating results and financial condition and could result in a complete loss of your investment

**Risks Related to our Common Stock and this Offering.**

We may invest or spend the proceeds of this offering in ways with which you may not agree and in ways that may not yield a return to our stockholders.

We will retain broad discretion over the use of proceeds from this public offering. Stockholders may not deem such uses desirable, and our use of the proceeds may not yield a significant return or any return at all for our stockholders. We intend to use the net proceeds from this offering for general corporate purposes, including funding our operating businesses and investment activities, such as our Sequoia, Aspire, and CoreVest mortgage banking platforms, acquiring related assets for our Redwood Investments portfolio, and pursuing strategic acquisitions and investments. Because of the number and variability of factors that determine our use of the proceeds, our actual uses of the proceeds may vary substantially from our currently planned uses.

The issuance of additional stock will dilute all other stockholdings and could affect the market price of our common stock.

We may issue shares of common stock issuable in respect of vested and unvested deferred stock units, issuable in respect of unvested performance stock units, reserved for issuance under our equity and incentive compensation plans or issuable upon conversion or exchange of our outstanding convertible or exchangeable notes, in each case without any action or approval by our stockholders. The issuance of these