Business Context and Reporting Period
Company: Redwood Trust, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: January 29, 2019
Event Date: January 29, 2019 (Agreement); February 1, 2019 (Closing)
The Company entered into a material definitive agreement to conduct a public offering of common stock.
Key Financial Metrics
This filing reports a capital raising event rather than periodic financial performance. Specific revenue, profit, cash flow, margin, or debt figures are not provided in this text.
- Primary Offering: 10,000,000 shares of Common Stock.
- Option Shares: 1,500,000 additional shares (Option exercised in full on January 30, 2019).
- Total Shares Issued: 11,500,000 shares.
- Par Value: $0.01 per share.
- Settlement Date: February 1, 2019.
Material Changes
The primary material change is the expansion of the Company's equity base through the issuance of 11,500,000 shares of common stock. The underwriters (Wells Fargo Securities, J.P. Morgan Securities, Credit Suisse Securities, and Goldman Sachs & Co.) exercised their full option to purchase additional shares.
Guidance, Outlook, and Risks
Management Commentary: The filing confirms the execution of the underwriting agreement and the subsequent exercise of the over-allotment option. It notes the filing of a legal opinion regarding the legality of the issued shares.
Risks and Contingencies: No specific risks or contingencies are detailed in this excerpt beyond the standard execution of the securities offering.
Investor Verification Checklist
- Verify the public offering price per share to calculate total gross proceeds (price not stated in this text).
- Confirm the net proceeds after underwriting discounts and commissions.
- Review the impact of the 11,500,000 new shares on existing shareholder dilution.
- Check subsequent filings for the use of proceeds from this offering.