Company: RWT-PA
Filing Date: 2025-11-07
Form Type: 424B5
Source: 0001104659-25-108580
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Company: REDWOOD TRUST INC
Filing Date: 2025-11-07
Form: 424B5
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TABLE OF CONTENTS

#### Filed Pursuant to Rule 424(b)(5)​

#### Registration No. 333-285506​

#### Prospectus Supplement
(To Prospectus dated March 3, 2025)

#### Up to $175,000,000

#### Common Stock
We have entered into a distribution agreement, dated March 4, 2022, as amended August 15, 2023, and as further amended on November 7, 2025, with BTIG, LLC, Citizens JMP Securities, LLC, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Wells Fargo Securities, LLC, each, an Agent and, collectively, the Agents, providing for the offer and sale of shares of our common stock having an aggregate gross sales price of up to $175.0 million from time to time through the Agents, acting as our agents, or directly to the Agents, acting as principals. Under a prior Registration Statement (File No. 333-263301) (the “Prior Registration Statement”), we previously offered and sold shares of our common stock having an aggregate gross sales price of $125.1 million under the distribution agreement. The Prior Registration Statement expired in March 2025, at which time there were shares of common stock having an aggregate gross sales price of up to $49.9 million remaining available for offer and sale under the distribution agreement. We filed a new registration statement (File No. 333-285506) (the “New Registration Statement”) to replace the Prior Registration Statement. Under this prospectus supplement and the accompanying prospectus, which form a part of the New Registration Statement, we are offering those remaining available shares of common stock as well as additional shares of common stock having an aggregate gross sales price of up to $125.1 million. As a result, as of the date of this prospectus supplement, shares of common stock having an aggregate gross sales price of up to $175.0 million are available for offer and sale pursuant to this prospectus supplement and the accompanying prospectus.

Sales of shares of our common stock, if any, as contemplated by this prospectus supplement made through the sales of shares of our common stock, if any, under this prospectus supplement and the accompanying prospectus may be made (1) in “at the market” offerings (as defined in Rule 415 under the Securities Act of 1933, as amended, or the Securities Act) by means of ordinary brokers’ transactions at market prices prevailing at the