Company: RWT-PA
Filing Date: 2025-08-22
Form Type: 424B5
Source: 0001104659-25-081925
Chunk: 13

Company: REDWOOD TRUST INC
Filing Date: 2025-08-22
Form: 424B5
Chunk 13
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 “fundamental change” (as defined under “Description of Notes — Fundamental change permits holders to require us to repurchase notes”), subject to certain conditions and a limited exception for exempted fundamental changes as described in this prospectus supplement, you may require us to repurchase for cash all or part of your notes. The fundamental change repurchase price will equal 100% of the aggregate principal amount of the notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the fundamental change repurchase date.

Events of Default

Except as described under “Description of Notes — Events of default,” if an event of default with respect to the notes occurs, holders may, upon satisfaction of certain conditions, accelerate the principal amount of the notes plus accrued and unpaid interest. If the event of default relates to our failure to comply with the reporting obligations in the indenture governing the notes, then, at our option, the sole remedy for the first 365 days following such event of default consists exclusively of the right to receive additional interest on the notes as described under “Description of Notes — Events of default.” In addition, the principal amount of the notes plus accrued and unpaid interest will automatically become due and payable in the case of certain types of bankruptcy or insolvency events as described under “Description of Notes — Events of default.”

Book-Entry Form

The notes will initially be issued in book-entry form and will be represented by one or more global certificates deposited with, or on behalf of, The Depository Trust Company, which we refer to as DTC, and registered in the name of a nominee of DTC. Beneficial interests in any of the notes will be shown on, and transfers will be effected only through, records maintained by DTC or its nominee, and any such interest may not be exchanged for certificated securities, except in limited circumstances.

No Listing

The existing notes are not listed, and we do not intend to apply for listing of the notes, on any securities exchange. Our common stock is listed on The New York Stock Exchange under the symbol “RWT.”

Material U.S. Federal Income Tax 
 Considerations

For certain material U.S. federal income tax considerations relating to the purchase, ownership and disposition of the notes and the shares of our common stock, if any, into which the notes are convertible, see “Material U.S. Federal Income Tax Considerations” in Exhibit 99.1 to our Current Report on Form 8-K dated August 21, 2025 (the “