Adamas Trust (ADAM) Registration Filing summary

Company overview and business model

• Internally managed REIT focused on capital deployment across real estate and capital markets to generate durable earnings and long-term value through disciplined portfolio management.

• Investment portfolio includes credit-sensitive single-family and multi-family assets, Agency RMBS, non-Agency RMBS, and other mortgage- and credit-related assets.

• Through a wholly owned subsidiary, originates and services business purpose loans for residential real estate investors.

• Elected REIT status for U.S. federal income tax purposes since 2004, aiming to avoid federal income tax on distributed REIT taxable income.

• Completed a corporate name change in September 2025.

Financial performance and metrics

• As of September 4, 2025, 90,313,579 shares of common stock and 6,147,274 Series D, 7,456,749 Series E, 5,804,794 Series F, and 2,976,857 Series G preferred shares were outstanding.

• Common stock last traded at $7.37 per share; preferred shares and senior notes also actively traded on Nasdaq.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be added to general corporate funds, used for new investments, debt repayment, redemption of outstanding securities, or other corporate purposes, with specific allocations detailed in future prospectus supplements.