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This zero redemption result signifies the market’s positive confidence in this merger transaction, removing a key obstacle for both companies to smoothly complete their capital operations. After the merger is completed, the new entity will integrate the resource advantages of both parties and accelerate the pace of business expansion.

The financial report shows that the company achieved a significant 35% increase in net sales, with operating profit rising sharply by 52% year-on-year, while also demonstrating strong cash generation capability. Based on this excellent quarterly performance, the company announced an upward revision of its full-year performance outlook. In addition, regarding the safety and security systems business division, Federal Signal simultaneously raised its EBITDA margin target, reflecting management’s continued confidence in the profitability of this segment.

This collaboration will combine Castlelake's professional expertise in alternative asset investment with Redwood's deep roots in the housing credit market, aiming to build a high-quality mortgage portfolio. The establishment of the joint venture marks a significant step for both institutions in expanding the scale of their housing finance businesses. Through this strategic initiative, both parties will focus on high-quality jumbo mortgage assets in the U.S. market, providing investors with more attractive risk-adjusted returns. This cooperation is expected to further enhance the overall competitiveness of both companies in the mortgage market.