Company: ADAMM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001273685-25-000047
Chunk: 223

Company: ADAMAS TRUST, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 2
Chunk 223
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 March 31, 2025, certain of our wholly-owned subsidiaries had trust preferred securities outstanding of $45.0 million with a weighted average interest rate of 8.39% which are due in 2035. The securities are fully guaranteed by us with respect to distributions and amounts payable upon liquidation, redemption or repayment. These securities are classified as subordinated debentures in the liability section of our condensed consolidated balance sheets.

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Balance Sheet Analysis - Company's Stockholders’ Equity

The following table provides a summary of the Company's stockholders' equity at March 31, 2025 and December 31, 2024, respectively (dollar amounts in thousands):

March 31, 2025December 31, 20248.000% Series D Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock$147,745 $147,745 7.875% Series E Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock177,697 177,697 6.875% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock 138,418 138,418 7.000% Series G Cumulative Redeemable Preferred Stock71,585 71,585 Common stock905 906 Additional paid-in capital2,284,569 2,289,044 Accumulated deficit(1,418,973)(1,430,675)Company's stockholders' equity$1,401,946 $1,394,720 

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Liquidity and Capital Resources

General

Liquidity is a measure of our ability to meet potential cash requirements.  Our short-term (the 12 months ending March 31, 2026) and long-term (beyond March 31, 2026) liquidity requirements include ongoing commitments to repay borrowings, fund and maintain investments, comply with margin requirements, fund our operations, pay dividends to our stockholders and other general business needs. Generally, our short-term and long-term liquidity needs are met by our existing cash balances and our investments and assets which generate liquidity on an ongoing basis through principal and interest payments, prepayments, net earnings retained prior to payment of dividends and distributions from equity investments. In addition, we may satisfy our short-term and/or long-term liquidity needs through the sale of assets from our investment portfolio, securities offerings or the securitization or collateralized financing of our assets.

We continue to seek out assets and markets that