Adamas Trust completes $90M offering of 9.600% Senior Notes due 2031

ADAMAS TRUST, INC.

Issued $90M aggregate principal of 9.600% Senior Notes due 2031 at 100% of par.
Interest payable quarterly starting Oct 1, 2026; maturity Oct 1, 2031; redeemable after Oct 1, 2028.
Net proceeds ~$86.6M after discounts/expenses; for general corporate purposes incl. acquisitions/debt repayment.
Underwriters include Morgan Stanley, KBW, Piper Sandler, RBC, UBS, Wells Fargo; 30-day over-allotment option for $13.5M additional.
Notes are senior unsecured, rank equal to existing 9.125% 2029, 9.125% 2030, 9.875% 2030, 9.250% 2031 notes.

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