Adamas Trust (NASDAQ: ADAM) sets up $250M at-the-market stock offering
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Adamas Trust, Inc. entered into an equity distribution agreement establishing an at-the-market common stock offering program of up to $250,000,000 in aggregate. The company may sell shares from time to time through JonesTrading, BTIG, and B. Riley Securities as sales agents, or directly to an agent acting as principal.
The agents may receive up to 2.0% of gross proceeds as compensation. Adamas Trust plans to use any net proceeds for general corporate purposes, including acquiring targeted mortgage-, residential housing- and credit-related assets and for working capital. The shares will be issued under its existing Form S-3 shelf registration, supported by a new prospectus supplement dated June 12, 2026.
Positive
- None.
Negative
- None.
8-K Event Classification
2 items: 8.01, 9.01
2 items
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
ATM program size: $250,000,000 aggregate offering price
Agent commission: Up to 2.0% of gross proceeds
Series D preferred dividend rate: 8.000%
+5 more
8 metrics
ATM program size
$250,000,000 aggregate offering price
Maximum common stock Adamas Trust may sell under equity distribution agreement
Agent commission
Up to 2.0% of gross proceeds
Compensation rate to each sales agent on stock sold
Series D preferred dividend rate
8.000%
Fixed-to-floating rate cumulative redeemable preferred stock, $25 liquidation preference
Series E preferred dividend rate
7.875%
Fixed-to-floating rate cumulative redeemable preferred stock, $25 liquidation preference
Series F preferred dividend rate
6.875%
Fixed-to-floating rate cumulative redeemable preferred stock, $25 liquidation preference
Series G preferred dividend rate
7.000%
Cumulative redeemable preferred stock, $25 liquidation preference
Senior notes rate 2029
9.125%
Coupon on senior notes due 2029 listed on Nasdaq
Senior notes rate 2031
9.250%
Coupon on senior notes due 2031 listed on Nasdaq
Key Terms
equity distribution agreement, at-the-market offerings, cumulative redeemable preferred stock, prospectus supplement, +2 more
6 terms
equity distribution agreement financial
"entered into an equity distribution agreement (the “Equity Distribution Agreement”) with JonesTrading..."
An equity distribution agreement is a formal plan between a company and financial institutions to sell newly issued shares of the company's stock to investors over a period of time. It helps the company raise money gradually, similar to filling a container with water in stages, rather than all at once. For investors, it provides an organized way to buy shares and can influence the stock's supply and price.
at-the-market offerings financial
"transactions that are deemed to be “at-the-market” offerings as defined in Rule 415 under the Securities Act of 1933"
An at-the-market offering is a method for a company to sell new shares of its stock directly into the stock market over time, rather than all at once. This approach allows the company to raise money gradually, similar to selling small portions of a product as demand grows. For investors, it can influence stock availability and price, making it an important factor to consider when assessing a company's financial strategy.
cumulative redeemable preferred stock financial
"Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, par value $0.01 per share, $25.00 Liquidation Preference"
Cumulative redeemable preferred stock is a type of investment that gives shareholders priority over common stockholders to receive dividends and get their money back if the company is sold or closes. If the company misses dividend payments, it must pay them later before any dividends can go to other shareholders. This makes it a more secure and flexible option for investors seeking steady income with some ability to redeem their shares in the future.
prospectus supplement financial
"filed a prospectus supplement, dated June 12, 2026, to the prospectus, dated September 16, 2025"
A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.
senior notes financial
"9.125% Senior Notes due 2029 ... 9.250% Senior Notes due 2031"
Senior notes are a type of loan that a company borrows from investors, promising to pay it back with interest. They are called "senior" because in case the company faces financial trouble, these lenders are paid back before others. This makes senior notes safer for investors compared to other types of loans or bonds.
Registration Statement on Form S-3 regulatory
"The Offered Stock will be issued pursuant to the Company’s Registration Statement on Form S-3 (File No. 333-290073)."
A registration statement on Form S‑3 is a short, standardized filing a qualified public company uses to register new securities with regulators so they can be sold to investors; think of it as a pre-approved, reusable permission slip that speeds up future offerings. It matters to investors because it lets the company raise money more quickly and cheaply — which can fund growth or pay debt — but may also lead to share dilution or change in ownership, so it affects value and liquidity.
Offering Details
ATM
Offering
Offering Type
ATM
Use of Proceeds
general corporate purposes including acquiring targeted mortgage-, residential housing- and credit-related assets and working capital
FAQ
What stock offering did ADAM Adamas Trust announce in this 8-K?
Adamas Trust launched an at-the-market common stock program for up to $250,000,000 in aggregate. Shares may be sold from time to time through JonesTrading, BTIG, and B. Riley Securities as sales agents or to them acting as principal.
How will Adamas Trust (ADAM) use proceeds from its $250 million ATM?
Adamas Trust plans to use net proceeds for general corporate purposes. These may include acquiring targeted mortgage-, residential housing- and credit-related assets the company focuses on, along with general working capital needs across its business.
Which firms are acting as sales agents for Adamas Trust’s ATM program?
JonesTrading Institutional Services LLC, BTIG, LLC and B. Riley Securities, Inc. are the sales agents. They can sell Adamas Trust common stock in at-the-market transactions, block trades, privately negotiated deals, or as principal under the equity distribution agreement.
What compensation will agents receive in the Adamas Trust ATM agreement?
Each agent may receive up to 2.0% of the gross proceeds from shares it sells. This commission applies to Adamas Trust common stock sold through that agent under the equity distribution agreement’s at-the-market offering structure.
Under what registration is Adamas Trust’s new ATM stock program issued?
The common stock in the ATM program will be issued under Adamas Trust’s Form S-3 shelf registration statement, file number 333-290073. A prospectus supplement dated June 12, 2026, accompanies the base prospectus dated September 16, 2025.
Does Adamas Trust or the agents have to sell stock under this ATM program?
No, neither Adamas Trust nor the agents are obligated to sell or buy any shares. The company or any agent may suspend solicitations and offers at any time under the equity distribution agreement, providing flexibility around future capital raising.