Company: ADAMM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001273685-25-000072
Chunk: 376

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 376
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gency RMBS re-securitization (see Note 17).  See Note 7 for unrealized gains or losses recognized on CDOs issued by Consolidated SLST.  For the three and six months ended June 30, 2025, the Company recognized $7.4 million and $12.0 million in net unrealized losses, respectively, on residential loan securitizations and a non-Agency RMBS re-securitization at fair value, which are included in unrealized gains (losses), net on the accompanying condensed consolidated statements of operations. For the three and six months ended June 30, 2024, the Company recognized $0.1 million in net unrealized losses and $1.5 million in net unrealized gains, respectively, on residential loan securitizations and a non-Agency RMBS re-securitization at fair value, which are included in unrealized gains (losses), net on the accompanying condensed consolidated statements of operations. 

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The Company's CDOs as of June 30, 2025 had stated maturities as follows:Year ending December 31, Total2025$— 2026— 2027— 2028— 2029225,000 Thereafter3,223,137 Total$3,448,137 

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15.      DebtSenior Unsecured Notes     On January 14, 2025, the Company completed the issuance of $82.5 million in aggregate principal amount of its 9.125% Senior Notes due 2030 (the "9.125% 2030 Senior Notes") in an underwritten public offering. The total net proceeds to the Company from the offering of the 9.125% 2030 Senior Notes, after deducting the underwriters' discount and commissions and offering expenses, were approximately $79.3 million. On June 28, 2024, the Company completed the issuance of $60.0 million in aggregate principal amount of its 9.125% Senior Notes due 2029 (the "2029 Senior Notes") in an underwritten public offering. The total net proceeds to the Company from the offering of the 2029 Senior Notes, after deducting the underwriters' discount and commissions and offering expenses, were approximately $57.5 million. On April 27, 2021, the Company completed the issuance and sale to various qualified institutional investors of $100.0 million