Wood became Newcastle’s second signing under their new ownership, joining the club from fellow relegation candidates Burnley.
Reinforcement in attack was priority for Magpies boss Eddie Howe going into the January window, and Wood was the only forward they managed to sign before Monday’s deadline.
However, the 30-year-old was never part of Newcastle’s original transfer plan in January.
The Tyneside giants lost first choice hitman Callum Wilson owing to an injury in late December and his absence was felt at Newcastle fell to an embarrassing 1-0 FA Cup defeat to League One Cambridge United in early January.
Wood’s representatives presented him as an emergency option and Newcastle head of recruitment Steve Nickson opted to sign him.
The Tyneside giants triggered Wood’s £25m release clause to snare him away from Turf Moor, in the process depraving Burnley boss Sean Dyche of one of his key players.
Wood has so far featured in two Premier League games for Newcastle, but is yet to open his account for his new club while Wilson is on the road to recovery.