Redwood Trust, Inc. (“Redwood”) (NYSE: RWT) today announced the pricing of an underwritten public offering of 2,600,000 shares of its 10.00% Series A Fixed-Rate Reset Cumulative Redeemable Preferred Stock (the “Series A Preferred Stock”) with a liquidation preference of $25.00 per share, resulting in gross proceeds of $65.0 million. In connection with the offering, Redwood has granted the underwriters a 30-day option to purchase up to an additional 390,000 shares of Series A Preferred Stock, solely to cover over-allotments. Redwood intends to apply to list the Series A Preferred Stock on the New York Stock Exchange under the symbol "RWT PRA." The offering is expected to close on January 18, 2023, subject to the satisfaction of customary closing conditions.
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