Company: ADAMM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001273685-25-000072
Chunk: 404

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 404
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January 23, 20250.20 Third Quarter 2024September 19, 2024September 30, 2024October 28, 20240.20 Second Quarter 2024June 18, 2024June 28, 2024July 29, 20240.20 First Quarter 2024March 13, 2024March 25, 2024April 25, 20240.20 (e)  Equity Distribution AgreementsOn August 10, 2021, the Company entered into an equity distribution agreement (the “Common Equity Distribution Agreement”) with a sales agent, pursuant to which the Company may offer and sell shares of its common stock, par value $0.01 per share, having a maximum aggregate sales price of up to $100.0 million from time to time through the sales agent. The Company has no obligation to sell any of the shares of common stock issuable under the Common Equity Distribution Agreement and may at any time suspend solicitations and offers under the Common Equity Distribution Agreement.There were no shares of the Company's common stock issued under the Common Equity Distribution Agreement during the three and six months ended June 30, 2025 and 2024. As of June 30, 2025, approximately $100.0 million of common stock remains available for issuance under the Common Equity Distribution Agreement. On June 13, 2025, the Company entered into an equity distribution agreement (the “Preferred Equity Distribution Agreement”) with a sales agent, pursuant to which the Company may offer and sell shares of its Preferred Stock, having a maximum aggregate gross sales price of up to $50.0 million from time to time through the sales agent. The Company has no obligation to sell any of the shares of Preferred Stock issuable under the Preferred Equity Distribution Agreement and may at any time suspend solicitations and offers under the Preferred Equity Distribution Agreement. The Preferred Equity Distribution Agreement replaced the Company's prior preferred equity distribution agreement with a sales agent dated March 29, 2019, as amended on March 2, 2022 (collectively, the “Prior Preferred Equity Distribution Agreement”), pursuant to which approximately $100.0 million of aggregate value of the Company's preferred stock remained available for issuance prior to termination.  

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During the three and six months ended June 30, 2025, the Company issued 175,495 shares of Preferred Stock under the Preferred Equity Distribution Agreement, at an average price of $23.