Adamas Trust Prices $90 Million Senior Notes Offering at 9.250% Interest Rate

summarizeSummary

Adamas Trust, Inc. announced the pricing of a $90 million offering of 9.250% Senior Notes due 2031, securing substantial capital for the company.

check_boxKey Events

• Senior Notes Offering Priced

  Adamas Trust, Inc. priced an offering of $90,000,000 aggregate principal amount of 9.250% Senior Notes due 2031. The company also granted underwriters an over-allotment option for an additional $13,500,000 principal amount of Notes.

• Net Proceeds and Interest Rate

  The offering is expected to generate net proceeds of approximately $87,165,000 for the company, before expenses, assuming the over-allotment option is not exercised. The Notes will bear interest at a rate of 9.250% per annum, payable quarterly.

• Maturity and Listing Intent

  The Senior Notes will mature on April 1, 2031. Adamas Trust intends to apply to list the Notes on the Nasdaq Global Select Market under the trading symbol 'ADAMO'.

auto_awesomeAnalysis

Adamas Trust, Inc. has successfully priced a significant debt offering, securing $90 million in capital through 9.250% Senior Notes due 2031. This substantial capital raise provides the company with additional financial resources, which can be used for general corporate purposes, debt repayment, or other strategic initiatives. While the 9.250% interest rate indicates a notable cost of capital, the ability to raise this amount of debt is a critical financing event for the company, impacting its balance sheet and future interest expenses.