Embracing a New Era: Adamas Trust, Inc.
NEW YORK — New York Mortgage Trust, Inc. (the "Company") has announced that it will undergo a significant name change, transitioning to Adamas Trust, Inc. This change will officially take place at 12:01 a.m. Eastern Time on the transition date, with shares being traded on Nasdaq under the new symbol "ADAM." This rebranding marks a pivotal moment in the Company’s mission to engage in a wider array of investment opportunities, enhancing its portfolio appeal.
A Name with Strength
The term "Adamas," meaning "firm," "unbreakable," and "lasting," was chosen to embody the Company’s commitment to strength, resilience, and a long-term vision in the investment landscape. This new branding reflects the organization’s evolution into a dynamic investment platform unbound by geographical restrictions. The leadership at Adamas Trust believes this transformation aligns seamlessly with its mission to provide substantial earnings and enhance stockholder value.
Leadership’s Vision for the Future
CEO Jason Serrano expressed the significance of this rebranding, stating, “Rebranding to Adamas Trust, Inc. represents more than just a name change; it symbolizes our dedication to core principles that guide our future.” This transformation signifies a commitment to a strategy that is proactive and adaptive, matching the evolving market dynamics.
Strategic Developments and Acquisitions
Recently, the Company has successfully expanded its interest income by an impressive 55%. This was achieved through a strategic realignment of its portfolio, with a focus on Agency RMBS. Additionally, the acquisition of Constructive Loans, LLC, a key player in providing business-purpose loans for residential real estate investments, further strengthens its position. This move demonstrates the Company’s strategic foresight as it endeavors to broaden its investment management capabilities.
Continuity Amid Change
As the Company prepares for this name transition, it reassures all stakeholders that operations will remain uninterrupted. The conversion of trading symbols on Nasdaq will take place on the designated date; existing security holders are not required to take any action regarding their shares. The established rights of stockholders, qualifications as a REIT for federal tax purposes, and the validity of outstanding securities will remain intact.
New Corporate Identity to debut
Alongside the name change, Adamas Trust will unveil its new corporate website, inviting stakeholders to explore updated information about the Company and its initiatives. The new website is designed to enhance accessibility to information regarding the Company’s operations, investments, and corporate communications.
About Adamas Trust, Inc.
Adamas Trust, formerly New York Mortgage Trust, is an internally managed real estate investment trust focused on strategically deploying capital across various sectors to generate sustainable earnings and long-term value for its stockholders. With an emphasis on building a resilient investment strategy grounded in integrity and strength, the Company is structured to tactically navigate the complexities of both real estate and capital markets.
Frequently Asked Questions
What led to the name change from New York Mortgage Trust to Adamas Trust?
The name change reflects a broader strategic focus and a commitment to resilience and long-term value in the investment space.
Will the operations of the Company change after the rebrand?
No, the operations, stockholder rights, and REIT qualification will remain unchanged despite the rebranding.
How will the trading symbols change?
The common stock's ticker will change from "NYMT" to "ADAM," along with changes for preferred stocks and notes accordingly.
What does the name Adamas signify?
Adamas has meanings of firmness and resilience, aligning with the Company’s new direction and commitments.
Where can I access more information about Adamas Trust?
The Company’s new corporate website will provide updated information once it goes live alongside the name change.
For Further Information
Investor Relations
Phone: 212-792-0107
