secwatch.observer — SEC 8-K summary
======================================

Issuer:     REDWOOD TRUST INC (RWT)
CIK:        0000930236
Form:       8-K
Filed at:   2024-10-11T23:59:59+00:00
Accession:  0001104659-24-108060
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/930236/000110465924108060/0001104659-24-108060-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/930236/000110465924108060/tm2425835d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-108060

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer