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Redwood Trust shareholders to vote on authorized common share increase

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Redwood Trust shareholders to vote on authorized common share increase

Redwood Trust Inc.'s board recommended shareholders approve an increase in the company's authorized common shares to 270 million shares from 180 million shares at the annual meeting on May 15.

The board approved the increase March 18. It said the additional common shares may be issued from time to time to fund Redwood Trust's business and investment activity, for general corporate purposes or under the company's convertible and exchangeable notes.