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Redwood Trust Prices Reopening of $50 Million of 7.75% Convertible Senior Notes Due 2027
MILL VALLEY, Calif., August 22, 2025--Redwood Trust, Inc. (NYSE: RWT; "Redwood" or the "Company") today announced that it has priced the offering of $50 million aggregate principal amount of its 7.75% convertible senior notes due 2027 (the "Notes") to certain investors in a direct placement registered under the Securities Act of 1933, as amended. The Notes will be issued as a reopening of, and will be part of the same series as, the 7.75% convertible senior notes due 2027 that the Company origin
About this update from Redwood Trust, Inc.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":480,"height":238,"url":"https://media.zenfs.com/en/business-wire.com/e774de8cbaa611958217b35546e94be2"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/KNEWbgN2pdA_bmCFQt5jSA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTQ3NjtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/e774de8cbaa611958217b35546e94be2","width":480,"height":238}},"lazy":false},{"type":"text","content":"MILL VALLEY, Calif., August 22, 2025--(BUSINESS WIRE)--Redwood Trust, Inc. (NYSE: RWT; "Redwood" or the "Company") today announced that it has priced the offering of $50 million aggregate principal amount of its 7.75% convertible senior notes due 2027 (the "Notes") to certain investors in a direct placement registered under the Securities Act of 1933, as amended. The Notes will be issued as a reopening of, and will be part of the same series as, the 7.75% convertible senior notes due 2027 that the Company originally issued in June 2022 (the "Initial Notes") and the 7.75% convertible senior notes due 2027 that the Company issued in October 2024 (the "Initial Additional Notes" and, together with the Initial Notes, the "Existing Notes"). Currently, $247,170,000 aggregate principal amount of Existing Notes are outstanding. The issuance and sale are expected to close on August 25, 2025, subject to the satisfaction of certain closing conditions.","length":1013,"tagName":"p"},{"type":"text","content":"Interest on the Notes is payable semi-annually in arrears on June 15 and December 15 of each year; the Notes will mature on June 15, 2027, unless earlier repurchased, redeemed or converted. If Redwood undergoes a "fundamental change" (as defined in the indenture governing the Notes), then, subject to certain conditions, holders of the Notes may require Redwood to repurchase all or part of their Notes for cash in an amount equal to the principal amount of the Notes to be repurchased, plus accrued and unpaid interest, if any.","length":539,"tagName":"p"},{"type":"text","content":"Before March 15, 2027, holders have the right to convert their Notes only upon the occurrence of certain events. From and after March 15, 2027, holders may convert their Notes at any time at their el...