Company: ADAMM
Filing Date: 2025-06-13
Form Type: 424B5
Source: 0001104659-25-059349
Chunk: 122

Company: ADAMAS TRUST, INC.
Filing Date: 2025-06-13
Form: 424B5
Chunk 122
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 not to be qualifying assets for the 75% asset test, and/or such income were determined not be qualifying for the 75% gross income test, we could be subject to a penalty tax or we could fail to qualify as a REIT. See “Material U.S. Federal Income Tax Considerations — Failure to Qualify” in the accompanying prospectus.

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TABLE OF CONTENTS

### PLAN OF DISTRIBUTION
We have entered into the equity distribution agreement with the Agent relating to shares of our Outstanding Series of Preferred Stock offered by this prospectus supplement and the accompanying prospectus. In accordance with the terms of the equity distribution agreement, we may offer and sell shares of our Outstanding Series of Preferred Stock having a maximum aggregate offering price of up to $50,000,000. The equity distribution agreement will be filed under the Exchange Act as Exhibit 1.1 to our Current Report on Form 8-K to be dated as of the date hereof and is incorporated by reference into this prospectus supplement.

Sales of shares of the Offered Stock, if any, under this prospectus supplement and the accompanying prospectus may be made by any method permitted by law deemed to be an “at-the-market” offering as defined in Rule 415 under the Securities Act, including, without limitation, sales made directly on Nasdaq, the existing trading market for the Offered Stock, sales made to or through a market maker other than on an exchange or, if specified in a written notice from us, by any other method permitted by law, including, but not limited to, in negotiated transactions, including block trades.

Under the terms of the equity distribution agreement, we also may sell shares of the Offered Stock to the Agent as principal for its own account at a price agreed upon at the time of sale. If we sell shares of the Offered Stock to the Agent as principal, we will enter into a separate written agreement with the Agent, and we will describe this agreement in a separate prospectus supplement.

Upon written instructions from us, the Agent will use its commercially reasonable efforts consistent with its sales and trading practices to solicit offers to purchase shares of the Offered Stock under the terms and subject to the conditions set forth in the equity distribution agreement. We will instruct the Agent as to the amount of the Offered Stock to be sold by the Agent. We may instruct the Agent not to sell the Offered Stock if the sales cannot be effected at or above the price designated by us in any instruction