Company: RWT-PA
Filing Date: 2025-11-07
Form Type: 424B5
Source: 0001104659-25-108580
Chunk: 16

Company: REDWOOD TRUST INC
Filing Date: 2025-11-07
Form: 424B5
Chunk 16
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 accompanying prospectus), we urge you to consult your tax advisor concerning the effects of U.S. federal, state, local and foreign tax laws to you with regard to an investment in shares of our common stock.

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### USE OF PROCEEDS
We intend to use the net proceeds from this offering for general corporate purposes, including funding our operating businesses and investment activities, such as our Sequoia, Aspire, and CoreVest mortgage banking platforms, acquiring related assets for our Redwood Investments portfolio, and pursuing strategic acquisitions and investments.

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### DISTRIBUTION POLICY
We generally are required to distribute to our stockholders an amount equal to at least 90% of our REIT taxable income determined before applying the deduction for dividends paid and by excluding net capital gains. Such distributions must be made in the tax year to which they relate or, if declared before the timely filing of our tax return for such year and paid not later than the first regular dividend payment after such declaration, in the following tax year.

If we fail to meet the distribution test as a result of a retroactive adjustment to our REIT taxable income, we may be able to avoid disqualification as a REIT by paying a “deficiency” dividend within a specified time period and in accordance with other requirements set forth in the Code. We would be liable for interest based on the amount of the deficiency dividend. A deficiency dividend is not permitted if the deficiency is due to fraud with intent to evade tax or to a willful failure to file a timely tax return. We believe we are in compliance with all our dividend distribution requirements.

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### PLAN OF DISTRIBUTION
We have entered into a distribution agreement, dated March 4, 2022, as amended August 15, 2023, and as further amended on November 7, 2025, with BTIG, LLC, Citizens JMP Securities, LLC, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Wells Fargo Securities, LLC, each, an Agent and, collectively, the Agents, providing for the offer and sale of shares of our common stock having an aggregate gross sales price of up to $175.0 million from time to time through the Agents, acting as our agents, or directly to the Agents, acting as principals. Under the Prior Registration Statement