Redwood Trust closes $39.76M 7.75% convertible note reopening, repurchases $33.1M of 2025 notes

REDWOOD TRUST INC

Issued $39,760,000 aggregate principal of 7.75% Convertible Senior Notes due 2027 as reopening of June 2022 series.
Net proceeds ~$38.2M; intends to use to repurchase a portion of 5.75% exchangeable notes due 2025.
Repurchased ~$33.1M of 5.75% subsidiary notes due 2025; ~$174.3M remain outstanding.
Conversion rate 95.6823 shares/$1,000 (conversion price ~$10.45), 38% premium to Oct 9 closing price.
Notes mature June 15, 2027; interest 7.75% semi-annual.

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