Company: RWT-PA
Filing Date: 2025-10-29
Form Type: 8-K
Source: 0001104659-25-103744
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Company: REDWOOD TRUST INC
Filing Date: 2025-10-29
Form: 8-K
Item: Item 8.01
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Item 8.01      Other Events.  

Joint Venture and Secured Financing Facility

On October 28, 2025, Redwood Trust, Inc. (“ Redwood”) announced
an expansion of its strategic capital partnership with Canada Pension Plan Investment Board (“ CPP Investments”), including
an extension of the commitment period for the joint venture, an upsize and extension of the secured revolving financing facility, and
amendments to outstanding warrants previously issued to CPP Investments in March 2024 in connection with the initial closing of the strategic
capital partnership (the “ Amended Warrants”). The joint venture commitment period was extended for an additional 18 months,
until September 2028. The secured revolving financing facility was upsized to $400 million from $250 million and the term was extended
until March 2027, with an optional 18-month extension, at Redwood’s option, until September 2028. The Amended Warrants were amended
to extend the expiration date of the exercise period for 18 months, until September 2030, and to re-strike the exercise price for the
warrants at a price of $6.96 per share, a 20% premium to the trailing 30-day volume-weighted average price of Redwood common stock.

The above description of the Amended Warrants is a summary and is not
complete. A copy of the First Amendment to Warrant Agreement, dated October 28, 2025, between Redwood and CPP Investments (the “ Amendment”),
is filed as exhibit 4.1 to this Current Report on Form 8-K, and the above summary is qualified by reference to the terms of the Amendment
set forth in such exhibit.