Company: RWT-PA
Filing Date: 2025-01-16
Form Type: 424B5
Source: 0001104659-25-004099
Chunk: 43

Company: REDWOOD TRUST INC
Filing Date: 2025-01-16
Form: 424B5
Chunk 43
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 advisory, investment management, investment research, principal investment, hedging, market making, brokerage
and other financial and non-financial activities and services. Certain of the underwriters and their affiliates have provided, and may
in the future provide, a variety of these services to us and to persons and entities with relationships with us, for which they received
or will receive customary fees and expenses, including potentially advising us in connection with the recently proposed acquisition of
an operating platform that originates residential investor loans, together with an associated portfolio of loans and subordinate mortgage-backed
securities.

In the ordinary course of
their various business activities, the underwriters and their affiliates, officers, directors and employees may purchase, sell or hold
a broad array of investments and actively trade securities, derivatives, loans, commodities, currencies, credit default swaps and other
financial instruments for their own account and for the accounts of their customers, and such investment and trading activities may involve
or relate to our assets, securities and/or instruments (directly, as collateral securing other obligations or otherwise) and/or persons
and entities with relationships with us. The underwriters and their affiliates may also communicate independent investment recommendations,
market color or trading ideas and/or publish or express independent research views in respect of such assets, securities or instruments
and may at any time hold, or recommend to clients that they should acquire, long and/or short positions in such assets, securities and
instruments.

Morgan Stanley &
Co. LLC and RBC Capital Markets, LLC or their respective affiliates are holders of our 2025 Notes and/or 2027 Notes. Such underwriters
or their respective affiliates may receive a portion of the proceeds from this offering to the extent the proceeds are used to repurchase
or repay the 2025 Notes or 2027 Notes.

Electronic Delivery

A prospectus in electronic
format may be made available on the web sites maintained by the underwriters, or selling group members, if any, participating in the
offering, and the underwriters may distribute prospectuses electronically. The underwriters may agree to allocate securities to selling
group members for sale to their online brokerage account holders. Internet distributions will be allocated by the underwriters and selling
group members that will make internet distributions on the same basis as other allocations.

Extended Settlement

We expect that delivery of
the notes will be made to investors on or about the closing date specified on the cover page of this prospectus supplement, which
will be the second business day following the date of this