Adamas Trust sets up $250 million stock offering program

Adamas Trust Inc. (NASDAQ: ADAM) entered into an equity distribution agreement on June 12, 2026, allowing the company to sell up to $250 million worth of common stock through at-the-market offerings.

The agreement involves three sales agents: JonesTrading Institutional Services LLC, BTIG LLC, and B. Riley Securities Inc. Under the arrangement, Adamas Trust may sell shares from time to time through various methods including ordinary broker transactions on the Nasdaq Global Select Market, privately negotiated transactions, or block trades.

Each agent will receive compensation of up to 2% of gross proceeds from shares sold through their services. The company has no obligation to sell shares under the agreement, and agents have no obligation to purchase or sell the stock. Either party may suspend solicitations and offers at any time.

Adamas Trust plans to use net proceeds for general corporate purposes, including acquiring targeted assets and mortgage-, residential housing-, and credit-related assets, as well as general working capital needs.

The stock offering operates under the company's Registration Statement on Form S-3, filed with the Securities and Exchange Commission. A prospectus supplement dated June 12, 2026, was filed in connection with the stock sales program.

The equity distribution agreement represents an at-the-market offering structure as defined under Rule 415 of the Securities Act of 1933. This arrangement allows the company flexibility in timing and pricing of potential stock sales based on market conditions.

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