Company: RWT-PA
Filing Date: 2025-11-19
Form Type: 8-K
Source: 0001104659-25-114083
Chunk: 0

Company: REDWOOD TRUST INC
Filing Date: 2025-11-19
Form: 8-K
Item: Item 1.01
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Item 1.01      Entry Into a Material Definitive Agreement.  

Completion of Public Offering of Senior Notes

On November 19, 2025, Redwood Trust, Inc.
(the “ Company”) completed its registered underwritten public offering of $100,000,000 aggregate principal amount of the Company’s
9.500% Senior Notes due 2030 (the “ Notes”) pursuant to an underwriting agreement (the “ Underwriting Agreement”)
with Morgan Stanley & Co. LLC (“ Morgan Stanley”), Goldman Sachs & Co. LLC (“ Goldman”), RBC Capital
Markets, LLC (“ RBC”), UBS Securities LLC (“ UBS”), Wells Fargo Securities, LLC (“ Wells Fargo”), Keefe,
Bruyette & Woods, Inc. (“ KBW”) and Piper Sandler & Co. (“ Piper Sandler”), as representatives
of the several underwriters named therein (the “ Offering”). In connection with the Offering, the Company granted the Underwriters
(as defined below) a 30-day option to purchase up to an additional $15,000,000 aggregate principal amount of Notes, to cover solely over-allotments,
if any.

The Notes have been registered pursuant to the
Registration Statement on Form S-3 (Registration Statement No. 333-285506), as amended by Post-Effective Amendment No. 1
(the “ Registration Statement”) filed with the Securities and Exchange Commission (the “ Commission”) under the
Securities Act of 1933, as amended (the “ Act”), including the prospectus supplement filed by the Company with the Commission
pursuant to Rule 424(b) under the Act dated November 17, 2025 (the “ Prospectus Supplement”) to the prospectus
contained in the Registration Statement dated March 3, 2025.

The resulting aggregate net proceeds to the Company
from the Offering were approximately $96.4 million (or approximately $110.9 million if the Underwriters exercise their over-allotment
option in full), after deducting underwriting discounts and estimated expenses. The Company intends to use the net proceeds from the Offering
for general corporate purposes, including funding its operating businesses and investment activities, such as its Sequoia, Aspire, and
CoreVest mortgage banking platforms, acquiring related assets for its Redwood Investments portfolio, and pursuing strategic acquisitions
and investments.

Base Indenture and Supplemental Indenture

The Company issued the Notes under an indenture
dated as of March 6,