NEW YORK, Jan. 06, 2026 (GLOBE NEWSWIRE) -- Adamas Trust, Inc. (NASDAQ:ADAM) (the "Company") announced today the pricing of an underwritten public offering of $90 million aggregate principal amount of its 9.250% senior notes due 2031 (the "Notes"). The Company has granted the underwriters a 30-day option to purchase up to an additional $13.5 million aggregate principal amount of the Notes to cover over-allotments. The offering is expected to close on January 13, 2026, subject to the satisfaction of customary closing conditions.

The Company has applied to list the Notes on the Nasdaq Global Select Market ("Nasdaq") under the symbol "ADAMO" and, if the application is approved, expects trading in the Notes on Nasdaq to begin within 30 days after the Notes are first issued.

The Company intends to use the net proceeds of the offering for general corporate purposes, which may include, among other things, acquiring the Company's targeted assets and/or repayment of existing indebtedness.

The Notes will be senior unsecured obligations of the Company and pay interest quarterly in cash on January 1, April 1, July 1 and October 1 of each year, commencing April 1, 2026. The Notes will mature on April 1, 2031, and may be redeemed, in whole or in part, at any time, or from time to time, at the Company's option on or after April 1, 2028.

Morgan Stanley & Co. LLC, Keefe, Bruyette & Woods, Inc., Piper Sandler & Co., RBC Capital Markets, LLC, UBS Investment Bank and Wells Fargo Securities, LLC acted as joint book-running managers of the offering.

The offering was made pursuant to the Company's existing shelf registration statement, which was declared effective by the Securities and Exchange Commission (the "SEC") on September 16, 2025. The offering of these securities was made only by means of a ...