Company: RWT-PA
Filing Date: 2025-11-18
Form Type: 424B5
Source: 0001104659-25-113682
Chunk: 0

Company: REDWOOD TRUST INC
Filing Date: 2025-11-18
Form: 424B5
Chunk 0
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TABLE OF CONTENTS

Filed Pursuant to Rule 424(b)(5) Registration Statement No. 333-285506 $100,000,000 9.500 % Senior Notes Due 2030 We are offering $100,000,000 aggregate principal amount (4,000,000 units, each unit representing $25) of our 9.500% Senior Notes due 2030 (the “notes”). The notes will bear interest at a rate equal to 9.500% per year, payable quarterly in arrears on March 1, June 1, September 1 and December 1 of each year, beginning on March 1, 2026. The notes will mature on December 1, 2030. The notes will be issued in minimum denominations of $25 and integral multiples of $25 in excess thereof or in units (each unit representing $25). We may redeem the notes, in whole or in part, at any time and from time to time on or after December 1, 2027 at a redemption price equal to 100% of the principal amount redeemed plus accrued and unpaid interest to, but excluding, the redemption date. Upon a Change of Control Repurchase Event, we will be required to make an offer to repurchase all outstanding notes at a price in cash equal to 101% of the principal amount of the notes, plus accrued and unpaid interest to, but not including, the repurchase date. See “Description of the Notes — Offer to Repurchase Upon a Change of Control Repurchase Event.” The notes will be our senior unsecured obligations and will rank equal in right of payment with our other existing and future senior unsecured indebtedness and senior in right of payment to any indebtedness that is contractually subordinated to the notes. The notes, however, will be effectively subordinated in right of payment to our existing and future secured indebtedness to the extent of the value of the collateral securing such indebtedness, and structurally subordinated to the claims of our subsidiaries’ creditors, including trade creditors. The notes are a new issue of securities and there is no established trading market for the notes. We intend to apply for listing of the notes on the New York Stock Exchange (the “NYSE”) under the symbol “RWTQ.” If approved for listing, trading on the NYSE is expected to begin within 30 days of November 19, 2025, the original issue date. The notes are expected to trade “flat,” meaning that purchasers