Company: RWT-PA
Filing Date: 2025-11-18
Form Type: 424B5
Source: 0001104659-25-113682
Chunk: 39

Company: REDWOOD TRUST INC
Filing Date: 2025-11-18
Form: 424B5
Chunk 39
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 up to an additional $15,000,000 aggregate principal amount of notes at the initial public offering price less the underwriting discounts and commissions. The underwriters may exercise the option solely for the purpose of covering over-allotments, if any, in connection with this offering. To the extent the option is exercised, each underwriter must purchase an aggregate principal amount of the notes approximately proportionate to that underwriter’s initial purchase commitment. Underwriting Discounts and Expenses The underwriters propose to offer the notes initially at the public offering price set forth on the cover page of this prospectus supplement and to selling group members at that price less a selling concession of $0.50 per $25.00 principal amount of the notes. After the initial offering of the notes, the underwriters may change the public offering price and concession or any other selling term of this offering may change. The offering of the notes by the underwriters is subject to receipt and acceptance and subject to the underwriters’ right to reject any order in whole or in part. The following table shows the underwriting discounts and commissions that we are to pay to the underwriters in connection with this offering. These amounts are shown assuming both no exercise and full exercise of the underwriters’ over-allotment option.

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TABLE OF CONTENTS

| ​                                                 | ​ | ​ | Per Note |   |         |   | ​ | ​ | Without Over-Allotment |   |             |   | ​ | ​ | With Over-Allotment |   |             |   | ​ |
|:--------------------------------------------------|:--|:--|:---------|:--|--------:|:--|:--|:--|:-----------------------|:--|------------:|:--|:--|:--|:--------------------|:--|------------:|:--|:--|
| Public offering price                             | ​ | ​ | ​        | $ |   25.00 | ​ | ​ | ​ | ​                      | $ | 100,000,000 | ​ | ​ | ​ | ​                   | $ | 115,000,000 | ​ | ​ |
| Underwriting discounts and commissions paid by us | ​ | ​ | ​        | $ |  0.7875 | ​ | ​ | ​ | ​                      | $ |   3,150,000 | ​ | ​ | ​ | ​                   | $ |   3,622,500 | ​ | ​ |
| Proceed