Redwood Trust, Inc. (NYSE: RWT - News) today announced that it closed its previously announced common stock offering of 15 million shares at a public offering price of $14.50 per share. In addition, Redwood announced that the underwriters of the offering exercised their over-allotment option in full to purchase an additional 2.24 million shares of common stock and the offering of those additional shares also closed today. The offering resulted in net proceeds to Redwood of approximately $238 million, after deducting underwriting discounts and commissions and estimated offering expenses.
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J.P. Morgan Securities Inc. acted as sole bookrunning manager for the offering.
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