Company: RWT-PA
Filing Date: 2025-11-07
Form Type: 424B5
Source: 0001104659-25-108580
Chunk: 2

Company: REDWOOD TRUST INC
Filing Date: 2025-11-07
Form: 424B5
Chunk 2
---
 elected to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes. In order to protect us against the risk of losing our qualification as a REIT due to concentration of ownership of our outstanding stock, our charter generally prohibits any single stockholder, or any group of affiliated stockholders, from beneficially owning more than 9.8% of the outstanding shares of any class of our stock, unless our board of directors waives or modifies this ownership limit. In addition, our charter contains various other restrictions on the ownership and transfer of shares of our common stock. See “Restrictions on Ownership and Transfer and Repurchase of Shares” beginning on page 24of the accompanying prospectus. An investment in our common stock involves risk. See “Risk Factors” beginning on page S-3of this prospectus supplement, in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission to read about important factors that you should consider before investing in our common stock. Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus supplement or the accompanying prospectus. Any representation to the contrary is a criminal offense. BTIG Citizens Capital Markets Goldman Sachs & Co. LLC

| ​ | J.P. Morgan | ​ | ​ | Wells Fargo Securities | ​ |

November 7, 2025.

TABLE OF CONTENTS

TABLE OF CONTENTS Prospectus Supplement

| ​ | ABOUT THIS PROSPECTUS SUPPLEMENT                  | ​ | ​ | ​ | ​ | S-ii  | ​ | ​ |
| ​ | FORWARD-LOOKING STATEMENTS                        | ​ | ​ | ​ | ​ | S-iii | ​ | ​ |
| ​ | PROSPECTUS SUPPLEMENT SUMMARY                     | ​ | ​ | ​ | ​ | S-1   | ​ | ​ |
| ​ | THE OFFERING                                      | ​ | ​ | ​ | ​ | S-2   | ​ | ​ |
| ​ | RISK FACTORS                                      | ​ | ​ | ​ | ​ | S-3   | ​ | ​ |
| ​ | USE OF PROCEEDS                                   | ​ | ​ | ​ | ​ | S-7   | ​ | ​ |
| ​ | DISTRIBUTION POLICY                               | ​ | ​ | ​ | ​ | S-8   | ​ | ​ |
| ​ | PLAN OF DISTRIBUTION                              | ​ | ​ | ​ |