newsfilter
← Latest News
GlobeNewswire·

Adamas Trust, Inc. Announces Pricing of Public Offering of Senior Notes

ADAM
  • Adamas Trust, Inc. priced a public offering of $90 million in 9.600% senior notes due 2031.
  • Underwriters hold a 30-day option to purchase an additional $13.5 million in notes for over-allotments.
  • The offering is expected to close on August 14, 2026, subject to customary conditions.
  • The Company applied to list the notes on the Nasdaq Global Select Market under the symbol "ADAMK" with trading expected within 30 days of issuance.
  • Net proceeds will be used for general corporate purposes, including acquiring targeted assets or repaying existing debt.
  • Notes are senior unsecured obligations paying quarterly cash interest on January 1, April 1, July 1, and October 1, starting October 1, 2026.
  • The notes mature on October 1, 2031, and are redeemable at the Company's option on or after October 1, 2028.
  • Morgan Stanley, Keefe, Bruyette & Woods, Piper Sandler, RBC Capital Markets, UBS Investment Bank, and Wells Fargo Securities served as joint book-running managers.
  • The offering was conducted under an SEC-effective shelf registration statement dated September 16, 2025.