Every 8-K that Redwood Trust, Inc. 9.75% Senior Notes Due 2031 (RWTS) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow RWTS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full RWTS filings page.
Redwood Trust, Inc. (RWT) completed a private offering of $205 million aggregate principal amount of 7.00% Convertible Senior Notes due 2030, issued under an indenture with Wilmington Trust as trustee. The notes are senior unsecured obligations, paying interest semi-annually on March 15 and September 15, and mature on September 15, 2030, unless earlier repurchased, redeemed or converted.
The initial conversion rate is 204.0608 shares of common stock per $1,000 principal amount, implying a conversion price of approximately $4.90 per share, a 35% premium to the September 10, 2026 closing price. Redwood may settle conversions in cash or in cash plus shares, with at least the principal amount paid in cash based on a 25‑trading‑day observation period. Initially, up to 56,473,810 shares may be issuable upon conversion at the stated maximum conversion rate, subject to adjustment and ownership limits in Redwood’s charter.
The offering was sold to persons reasonably believed to be qualified institutional buyers under Rule 144A. Redwood intends to use approximately $129.29 million of net proceeds to repurchase about $123.79 million principal of its existing 7.75% convertible senior notes due 2027, leaving approximately $173.38 million of those notes outstanding, and approximately $20 million to repurchase 5,509,641 shares of common stock in privately negotiated transactions, with remaining proceeds for general corporate and investment purposes.
Redwood Trust, Inc. (RWT) declared third quarter 2026 dividends and announced balance-sheet actions including a planned convertible notes offering and sales of legacy loans. The Board declared a $0.18 per share common stock dividend, unchanged from the prior quarter and representing the 109th consecutive quarterly common dividend, payable September 30, 2026 to holders of record on September 23, 2026. The Board also declared a third quarter 2026 dividend on the 10.00% Series A preferred stock of $0.625 per share, payable October 15, 2026 to holders of record on October 1, 2026.
Redwood reached preliminary agreements to dispose of certain legacy bridge loans with an aggregate unpaid principal balance of up to $190 million, which management currently estimates would reduce book value per share by approximately 2% from the June 30, 2026 level. These dispositions are targeted to close late in the third quarter or early in the fourth quarter of 2026 and remain subject to definitive documentation and closing conditions. Separately, Redwood plans a private offering of $150 million aggregate principal amount of convertible senior notes due 2030, with an option for initial purchasers to buy up to an additional $22.5 million of notes. The company intends to use a portion of the net proceeds to repurchase part of its 2027 notes, up to $20 million to repurchase common stock, and the remainder for general corporate purposes and funding its housing credit platforms.
Redwood Trust, Inc. reported second-quarter 2026 results with a GAAP net loss of $2.9 million, or $(0.03) per basic and diluted common share. Non-GAAP Earnings Available for Distribution were $20.3 million, or $0.15 per share, and Core Segments EAD were $34.0 million, or $0.25 per share. GAAP book value per common share was $6.90 at June 30, 2026, down from $7.12 at March 31, 2026, and the company declared a $0.18 quarterly common dividend, producing an economic return on book value of (0.6)%.
Mortgage banking production exceeded $8 billion for the second consecutive quarter, generating $40.1 million of GAAP net income and a 33% annualized return on capital across Sequoia, Aspire and CoreVest. Sequoia locked $5.6 billion of loans, Aspire locked a record $2.1 billion, and CoreVest funded $410 million, while more than 20 securitizations were completed year-to-date.
Management highlights AI-enabled automation delivering approximately 23,600 annualized hours of time savings, over 50% above the first-quarter baseline, alongside stable gain-on-sale margins and lower cost per loan in key platforms. Unrestricted cash and cash equivalents were $192 million and recourse debt $4.5 billion at June 30, 2026, with recourse leverage of 5.0x. Legacy Investments produced a GAAP net loss of $(23.3) million, and capital allocated to this segment is described as falling toward less than 10% of total capital as positions are wound down.
Redwood Trust, Inc. reported that its mortgage banking businesses continued to grow in the second quarter of 2026, with aggregate volumes over $8 billion. Aspire, its non-QM platform, delivered record lock volume of $2.1 billion, up 32% from the first quarter.
The company currently estimates a modest 1% to 3% decline in GAAP book value at June 30, 2026 from the prior quarter, with economic return on book value for the quarter estimated between (1.0)% and 1.0%, including the $0.18 per share dividend. Redwood also highlighted strong liquidity, citing a corporate unsecured senior notes offering completed in May and $3.5 billion of excess available asset funding capacity at June 30, 2026. It expects to report full second quarter results on July 28, 2026 and outlined plans to launch an Aspire joint venture with an institutional capital partner in the third quarter.
Redwood Trust, Inc. announced that its Board of Directors declared second quarter 2026 dividends on both its common and preferred stock. The regular common stock dividend is $0.18 per share, unchanged from the first quarter of 2026, payable on June 30, 2026 to stockholders of record on June 23, 2026.
For its 10.00% Series A Fixed-Rate Reset Cumulative Redeemable Preferred Stock, the Board declared a second quarter 2026 dividend of $0.625 per share, payable on July 15, 2026 to stockholders of record on July 1, 2026. The common dividend represents Redwood’s 108th consecutive quarterly common dividend, underscoring its long-running emphasis on regular income distributions as a real estate investment trust focused on housing credit.