NYMTN ADAMAS TRUST, INC., NYMTG ADAMAS TRUST, INC., NYMTH ADAMAS TRUST, INC., NYMTI ADAMAS TRUST, INC., NYMTL ADAMAS TRUST, INC., NYMTM ADAMAS TRUST, INC., NYMTZ ADAMAS TRUST, INC., NYMT ADAMAS TRUST, INC., ADAM ADAMAS TRUST, INC., ADAMH ADAMAS TRUST, INC., ADAMM ADAMAS TRUST, INC., ADAMZ ADAMAS TRUST, INC., ADAML ADAMAS TRUST, INC., ADAMG ADAMAS TRUST, INC., ADAMI ADAMAS TRUST, INC., ADAMN ADAMAS TRUST, INC. - 10-Q - (2025-11-04)

Adamas Trust, Inc. (formerly NYMT) completed a strategic repositioning in Q3 2025, marked by the renaming of the entity and the finalization of its multi-family joint venture wind-down. The strategy now centers on Agency RMBS and business purpose loans.

Strategic Transactions: The company acquired 100% ownership of Constructive Loans, LLC on July 15, 2025, for ~\(67.8M consideration (step acquisition). This resulted in \)22.4M in recognized Goodwill and $18.0M in intangible assets (customer relationships/trade name, amortized over 10-11 years).

Financial Performance: The nine-month