Redwood Trust Inc. (RWT) announced that it plans to offer $50 million aggregate principal amount of its 7.75% convertible senior notes due 2027.
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 and the 7.75% convertible senior notes due 2027 that the Company issued in October 2024. Currently, $247.17 million aggregate principal amount of Existing Notes are outstanding.
Redwood said it intends to use the net proceeds from this offering for general corporate purposes, which may include funding of Redwood's operating business and investment activity, which may include funding its residential and business purpose lending mortgage banking businesses, acquiring mortgage-backed securities for its investment portfolio, and funding strategic acquisitions and investments and/or the repayment of existing indebtedness, which may include the repurchase or repayment of a portion of the 5.75% exchangeable senior notes due 2025 issued by one of Redwood's subsidiaries.
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