Company: ADAMM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001273685-25-000088
Chunk: 132

Company: ADAMAS TRUST, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 132
---
 the issuance of $115.0 million in aggregate principal amount of our 9.875% Senior Notes due 2030 in public offerings. The total proceeds to us from the offerings of the notes, after deducting the underwriters' discount and commissions and offering expenses, as applicable, were approximately $111.4 million. 

•Completed two securitizations of residential loans, resulting in approximately $619.2 million in net proceeds to us after deducting expenses associated with the transactions. We utilized a portion of the net proceeds to redeem two residential loan securitizations and to repay approximately $270.5 million on outstanding repurchase agreements related to residential loans.

•Increased common stock dividend declared in September 2025 to $0.23 per common share.

101

Capital Allocation

The following provides an overview of the allocation of our total equity as of September 30, 2025 and December 31, 2024, respectively.  We fund our investing and operating activities with a combination of cash flow from operations, proceeds from common and preferred equity and debt securities offerings, short-term and longer-term repurchase agreements and warehouse facilities and CDOs. A detailed discussion of our liquidity and capital resources is provided in “Liquidity and Capital Resources” elsewhere in this section.

The following tables set forth our allocated capital at September 30, 2025 and December 31, 2024, respectively (dollar amounts in thousands). 

At September 30, 2025:

 Investment PortfolioConstructiveCorporate/OtherTotalInvestment securities available for sale and TBAs (1)$6,869,358 $— $— $6,869,358 Residential loans4,096,213 55,434 — 4,151,647 Consolidated SLST CDOs(1,016,952)— — (1,016,952)Residential loans held for sale— 105,036 — 105,036 Multi-family loans68,647 — — 68,647 Equity investments28,825 — — 28,825 Equity investments in consolidated multi-family properties (2)157,385 — — 157,385 Equity investments in disposal group held for sale (3)678 — — 678 Single-family rental properties131,984 — — 131,984 Mortgage servicing rights21,835 61 —