Company: RWT-PA
Filing Date: 2025-01-16
Form Type: 424B5
Source: 0001104659-25-004099
Chunk: 80

Company: REDWOOD TRUST INC
Filing Date: 2025-01-16
Form: 424B5
Chunk 80
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 for the shares of capital stock or warrants
on the retransfer of securities as provided above. Any dividend or distribution paid to a purported transferee on excess securities prior
to our discovery that shares of capital stock have been transferred in violation of our charter shall be repaid to us upon demand. If
these transfer restrictions are determined to be void, invalid, or unenforceable by a court of competent jurisdiction, then the purported
transferee of any excess securities may be deemed, at our option, to have acted as an agent on our behalf in acquiring the excess securities
and to hold the excess securities on our behalf.

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All certificates representing
shares of capital stock and warrants will bear a legend referring to the restrictions described above.

Any person who acquires shares
or warrants in violation of our charter, or any person who is a purported transferee such that excess securities result, must immediately
give written notice or, in the event of a proposed or attempted transfer that would be void as set forth above, give at least 15 days
prior written notice to us of such event and shall provide us such other information as we may request in order to determine the effect,
if any, of the transfer on our status as a REIT. In addition, as required under the REIT provisions of the Code, every record owner of
more than 5.0%, during any period in which the number of record stockholders is 2,000, or 1.0%, during any period in which the number
of record stockholders is greater than 200 but less than 2,000, or 1/2%, during any period in which the number of record stockholders
is 200 or less, of the number or value of our outstanding shares will receive a questionnaire from us by January 30 requesting information
as to how the shares are held. In addition, our charter requires that such stockholders must provide written notice to us by 30 days
after January 1 stating the name and address of the record stockholder, the number of shares beneficially owned and a description
of how the shares are held. In practice, we have generally permitted our stockholders to comply with the foregoing charter requirement
by responding to our annual REIT questionnaire. Further, each stockholder upon demand is required to disclose to us in writing such information
with respect to the direct and constructive ownership of shares and warrants as our board of directors deems reasonably necessary to
com