Company: RWT-PA
Filing Date: 2025-01-17
Form Type: 8-K
Source: 0001104659-25-004470
Chunk: 0

Company: REDWOOD TRUST INC
Filing Date: 2025-01-17
Form: 8-K
Item: Item 1.01
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Item 1.01      Entry Into a Material Definitive Agreement.  

Completion of Public Offering of Senior Notes

On January 17, 2025, Redwood Trust, Inc. (the
“ Company”) completed its registered underwritten public offering of $90,000,000 aggregate principal amount of the Company’s
9.125% Senior Notes due 2030 (the “ Notes”) pursuant to an underwriting agreement (the “ Underwriting Agreement”)
with Morgan Stanley & Co. LLC (“ Morgan Stanley”), Goldman Sachs & Co. LLC (“ Goldman”), RBC Capital Markets,
LLC (“ RBC”), Wells Fargo Securities, LLC (“ Wells Fargo”), Keefe, Bruyette & Woods, Inc. (“ KBW”)
and Piper Sandler & Co. (“ Piper Sandler”), as representatives of the several underwriters named therein (the “ Offering”).
In connection with the Offering, the Company granted the Underwriters (as defined below) a 30-day option to purchase up to an additional
$13,500,000 aggregate principal amount of Notes, to cover solely over-allotments, if any.

The Notes have been registered pursuant to the
Registration Statement on Form S-3 (Registration Statement No. 333-263301) (the “ Registration Statement”) filed with the Securities
and Exchange Commission (the “ Commission”) under the Securities Act of 1933, as amended (the “ Act”), including
the prospectus supplement filed by the Company with the Commission pursuant to Rule 424(b) under the Act dated January 15, 2025 (the “ Prospectus
Supplement”) to the prospectus contained in the Registration Statement dated March 4, 2022.

The resulting aggregate net proceeds to the Company
from the Offering were approximately $86.52 million (or approximately $99.59 million if the Underwriters exercise their over-allotment
option in full), after deducting underwriting discounts and estimated expenses. The Company intends to use the net proceeds from the Offering
for general corporate purposes, which may include (i) funding of the Company’s business and investment activity, which may include
funding the Company’s residential and business purpose lending mortgage banking businesses, acquiring mortgage-backed securities
for our investment portfolio, funding other long-term portfolio investments, and funding strategic acquisitions and investments and/or
(ii) the repayment of existing indebtedness, which may include the repurchase or repayment of a portion of the 5.75% exchangeable senior
notes