Adamas Trust, Inc. announces pricing of public offering of senior notes

Adamas Trust, Inc. (Nasdaq: ADAM) has announced the pricing of a $90 million public offering of its 9.250% senior notes due 2031. The offering includes an over-allotment option for the underwriters to purchase up to an additional $13.5 million in notes, exercisable within 30 days. The transaction is expected to close on January 13, 2026, contingent on customary closing conditions.

The notes will be senior unsecured obligations of the company and will pay interest quarterly, beginning April 1, 2026, with a maturity date of April 1, 2031. The company may redeem the notes in whole or in part on or after April 1, 2028. Proceeds from the offering will be used for general corporate purposes, including acquisition of targeted assets and the repayment of existing indebtedness.

The company has applied for the notes to be listed on the Nasdaq Global Select Market under the symbol "ADAMO," with trading expected to begin within 30 days of issuance. The offering was managed by a group of joint book-running managers, including Morgan Stanley & Co. LLC, Keefe, Bruyette & Woods, Inc., and others. The offering was conducted under a shelf registration statement declared effective by the SEC on September 16, 2025.