Company: RWT-PA
Filing Date: 2025-01-15
Form Type: 424B5
Source: 0001104659-25-003632
Chunk: 43

Company: REDWOOD TRUST INC
Filing Date: 2025-01-15
Form: 424B5
Chunk 43
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 and/or instruments (directly, as collateral securing other obligations or otherwise) and/or persons
and entities with relationships with us. The underwriters and their affiliates may also communicate independent investment recommendations,
market color or trading ideas and/or publish or express independent research views in respect of such assets, securities or instruments
and may at any time hold, or recommend to clients that they should acquire, long and/or short positions in such assets, securities and
instruments.

Morgan Stanley &
Co. LLC and RBC Capital Markets, LLC or their respective affiliates are holders of our 2025 Notes and/or 2027 Notes. Such underwriters
or their respective affiliates may receive a portion of the proceeds from this offering to the extent the proceeds are used to repurchase
or repay the 2025 Notes or 2027 Notes.

Electronic Delivery

A prospectus in electronic
format may be made available on the web sites maintained by the underwriters, or selling group members, if any, participating in the
offering, and the underwriters may distribute prospectuses electronically. The underwriters may agree to allocate securities to selling
group members for sale to their online brokerage account holders. Internet distributions will be allocated by the underwriters and selling
group members that will make internet distributions on the same basis as other allocations.

Extended Settlement

We expect that delivery of
the notes will be made to investors on or about the closing date specified on the cover page of this prospectus supplement, which
will be the second business day following the date of this prospectus supplement (such settlement being referred to as “T+2”).
Under Rule 15c6-1 under the Exchange Act, trades in the secondary market are required to settle in one business day, unless the
parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the notes prior to their delivery will
be required, by virtue of the fact that the notes will initially settle in T+2, to specify an alternative settlement arrangement at the
time of any such trade to prevent a failed settlement. Purchasers of the notes who wish to trade the notes prior to their date of delivery
hereunder should consult their advisors.

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Sales Outside of the United States

Hong Kong. This document has not been delivered for registration to the Registrar of Companies in Hong Kong and its contents have
not been reviewed or authorized by the Securities and Futures Commission of Hong Kong (SFC) or any other regulatory authority