Company: RWT-PA
Filing Date: 2025-03-03
Form Type: S-3ASR
Source: 0001104659-25-019828
Chunk: 1

Company: REDWOOD TRUST INC
Filing Date: 2025-03-03
Form: S-3ASR
Chunk 1
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 a post-effective
amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement
number of the earlier effective registration statement for the same offering. ¨

If this Form is a registration
statement pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the
Commission pursuant to Rule 462(e) under the Securities Act, check the following box. x

If this Form is a post-effective
amendment to a registration statement filed pursuant to General Instruction I.D. filed to register additional securities or additional
classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box. ¨

Indicate by check mark whether
the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging
growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting
company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

| Large             
 accelerated filer | x | Accelerated             
 filer                   | ¨ |
| Non-accelerated   
 filer             | ¨ | Smaller                 
 reporting company       | ¨ |
|                   |   | Emerging growth company | ¨ |

If an emerging growth company,
indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised
financial accounting standards provided pursuant to Section 7(a)(2)(B) of Securities Act. ☐

PROSPECTUS

<div align='center'>Redwood Trust, Inc.
Debt Securities
Common Stock
Preferred Stock
Warrants
Stockholder Rights
Units</div>

We may from time to time
offer, in one or more classes or series, separately or together, and in amounts, at prices and on terms to be set forth in one or more
supplements to this prospectus, the following securities:

| · | debt                                                                        
 securities, which may consist of debentures, notes, or other types of debt; |

| · | shares               
 of our common stock; |

| · | shares                  
 of our preferred stock; |

| · | warrants                                                   
 to purchase shares of our common stock or preferred stock; |

| · | rights                                                                                          
 issuable to our stockholders to purchase shares