Company: ADAMM
Filing Date: 2025-08-22
Form Type: 424B5
Source: 0001104659-25-081920
Chunk: 48

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-22
Form: 424B5
Chunk 48
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 or the perception that such changes may occur, including negative changes resulting in margin calls relating to the financing of our assets;

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changes in credit spreads;

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changes in the long-term credit ratings of the U.S., Fannie Mae, Freddie Mac, and Ginnie Mae;

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general volatility of the markets in which we invest;

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changes in prepayment rates on the loans we own or that underlie our investment securities;

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increased rates of default, delinquency or vacancy and/or decreased recovery rates on or at our assets;

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our ability to identify and acquire our targeted assets, including assets in our investment pipeline;

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our ability to dispose of assets from time to time on terms favorable to us, including the disposition over time of our joint venture equity investments;

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changes in our relationships with our financing counterparties and our ability to borrow to finance our assets and the terms thereof;

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changes in our relationships with and/or the performance of our operating partners;

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our ability to predict and control costs;

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changes in laws, regulations or policies affecting our business;

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our ability to make distributions to our stockholders in the future;

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our ability to maintain our qualification as a REIT for U.S. federal income tax purposes;

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our ability to maintain our exemption from registration under the Investment Company Act of 1940, as amended (the “Investment Company Act”);

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impairments in the value of the collateral underlying our investments;

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our ability to manage or hedge credit risk, interest rate risk, and other financial and operational risks;

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our exposure to liquidity risk, risks associated with the use of leverage, and market risks; and

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risks associated with investing in real estate assets, including changes in business conditions and the general economy, the availability of investment opportunities and the conditions in the market for

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TABLE OF CONTENTS

Agency RMBS, non-Agency RMBS, ABS and CMBS securities, residential loans, structured multi-family investments and other mortgage-, residential housing- and credit-related assets.

These and other risks, uncertainties and factors identified, or incorporated by reference in this prospectus, including but not limited to, those described in Item 1A of our most recently filed Annual Report on Form 10-K, as updated by those risks described in our subsequent filings with the SEC under the Exchange Act and in the other documents incorporated by reference in this prospectus, could cause our actual results to differ materially from those projected in any forward-looking statements we make.