Company: RWT-PA
Filing Date: 2025-01-15
Form Type: 424B5
Source: 0001104659-25-003632
Chunk: 71

Company: REDWOOD TRUST INC
Filing Date: 2025-01-15
Form: 424B5
Chunk 71
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 other securities. Each issuance of the securities warrants will be
issued under a separate securities warrant agreement to be entered into by us and a bank or trust company, as securities warrant agent,
all as set forth in the prospectus supplement relating to the particular issue of offered securities warrants. Each issue of securities
warrants will be evidenced by securities warrant certificates. The securities warrant agent will act solely as an agent of ours in connection
with the securities warrant certificates and will not assume any obligation or relationship of agency or trust for or with any holder
of securities warrant certificates or beneficial owners of securities warrants.

If we offer securities warrants
pursuant to this prospectus in the future, the applicable prospectus supplement will describe the terms of such securities warrants,
including the following, where applicable:

| ● | the offering 
 price;       |

| ● | the aggregate                                                                                                                       
 number of shares purchasable upon exercise of such securities warrants, and in the case of securities warrants for preferred stock, 
 the designation, aggregate number, and terms of the class or series of preferred stock purchasable upon exercise of such securities 
 warrants;                                                                                                                           |

| ● | the designation                                                                                                                       
 and terms of the securities with which such securities warrants are being offered, if any, and the number of such securities warrants 
 being offered with each such security;                                                                                                |

| ● | the date on                                                                                          
 and after which such securities warrants and any related securities will be transferable separately; |

| ● | the number                                                                                                                         
 of shares of preferred stock or shares of common stock purchasable upon exercise of each of such securities warrants and the price 
 at which such number of shares of preferred stock or common stock may be purchased upon such exercise;                             |

| ● | the date on                                                                                                                   
 which the right to exercise such securities warrants shall commence and the expiration date on which such right shall expire; |

| ● | U.S. federal                   
 income tax considerations; and |

| ● | any other material                 
 terms of such securities warrants. |

Holders of future securities
warrants, if any, will not be entitled by virtue of being such holders, to vote, to consent, to receive dividends, to receive notice
with respect to any meeting of stockholders for the election of our directors or any other matter, or to exercise any rights whatsoever
as stockholders of Redwood Trust.

<div align='center'>15

DESCRIPTION
OF RIGHTS TO PURCHASE SHARES OF COMMON OR PREFERRED STOCK</div>

We may issue, as a