NYMT launches $50M preferred stock ATM; amends 5.75% notes covenant to 8:1 debt-to-equity

ADAMAS TRUST, INC.

Entered Equity Distribution Agreement with JonesTrading to sell up to $50M aggregate of Series D, E, F, G preferred stock at-the-market.
Agent receives up to 2.0% of gross proceeds; net proceeds for acquisitions, mortgage-related assets, and working capital.
Amended indenture for 5.75% Senior Notes due 2026 to set maximum Net Debt to Equity Ratio at 8.00 to 1.00 per quarter.
Amendment follows consent solicitation that expired June 12, 2025 with majority holder approval.
Filed prospectus supplement dated June 13, 2025 to existing S-3 registration statement.

item 8.01item 9.01

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