Redwood Trust Plans C-Corporation Conversion and Preferred-for-Common Exchange Offer
Redwood Trust says its board unanimously approved a plan to discontinue its election to be treated as a real estate investment trust and plans a preferred-for-common stock exchange offer at a premium.
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09:16:55 PM UTC
SquawkNews
Redwood plans to convert from a REIT to a taxable C-corporation effective in 2027 and launch an exchange offer during the week of November 9, 2026, targeting $50M of common stock for 11.00% Series B preferred shares. A 1-for-5 reverse split is scheduled for January 4, 2027.Material DetailsContext b…
09:17:16 PM UTC
SquawkNews
Planned C-Corporation Conversion Estimated to Increase GAAP Book Value Per Share by $0.73-$0.77 in t
Redwood Trust, Inc. (NYSE:RWT; “Redwood”, “we”, “us” or the “Company”), a leader in expanding access to housing for homebuyers and renters, today announced that its Board of Directors (the “Board”) has unanimously approved a plan to discontinue the Company’s election to be treated as a real estate…