Redwood Trust (RWT) Prices 2.6M Preferred Share Offering
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Redwood Trust Announces Pricing of Public Offering of Preferred Stock
January 10, 2023 8:15 PM ESTMILL VALLEY, Calif.--(BUSINESS WIRE)-- 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... More
