Company: RWT-PA
Filing Date: 2025-11-07
Form Type: 424B5
Source: 0001104659-25-108580
Chunk: 18

Company: REDWOOD TRUST INC
Filing Date: 2025-11-07
Form: 424B5
Chunk 18
---
 and commissions but including expenses paid prior to the date of this prospectus supplement, will be approximately $500,000. The remaining sales proceeds from the sale of any shares of our common stock, after deducing any transaction fees, transfer taxes or similar fees, taxes or charges imposed by any governmental or self-regulatory organization in connection with such sales, shall constitute the net proceeds from the sale of our common stock offered by this prospectus supplement and the accompanying prospectus.

The offering of shares of our common stock pursuant to the distribution agreement will terminate upon the earlier of (1) the sale of shares of our common stock having an aggregate gross sales price of $175.0 million pursuant to the distribution agreement and (2) the termination of the distribution agreement by us or by the parties thereto by mutual agreement. Any Agent may also terminate the distribution agreement but only with respect to itself.

If an Agent has, or if we have, reason to believe that the exemptive provisions set forth in Rule 101(c)(1) of Regulation M under the Exchange Act are not satisfied, such party will promptly notify the other parties to the distribution agreement and sales of our common stock under the distribution agreement will be suspended until that or other exemptive provisions have been satisfied in the judgment of us and the Agents.

<div align='center'>S-9</div>

TABLE OF CONTENTS

Upon its acceptance of instructions from us, each Agent has agreed to use its commercially reasonable efforts to sell shares of our common stock, as our agent, on the terms and subject to the conditions set forth in the distribution agreement. We will instruct each Agent as to the amount of common stock to be sold by it as our agent. We may instruct an Agent not to sell our common stock as our agent if the sales cannot be effected at or above a price designated by us. We or any Agent may at any time immediately suspend the offering of shares of our common stock through such Agent, as our agent, upon notice to the other party.

The applicable Agent will provide written confirmation prior to the opening of trading on the NYSE on the immediately following day on which shares of our common stock are sold through such Agent, as our agent, under the distribution agreement. Each confirmation will include the number of shares of our common stock sold on that day, the gross sales price per share, the aggregate gross sales price of the shares of our common stock sold, the net proceeds and the compensation payable by us to such Agent in connection with such sales of our common stock.

We will pay