Company: ADAMM
Filing Date: 2025-08-22
Form Type: 424B5
Source: 0001104659-25-081920
Chunk: 1

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-22
Form: 424B5
Chunk 1
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ness that is not so subordinated, effectively junior to any future secured indebtedness to the extent of the value of the assets securing such indebtedness and structurally junior to all existing and future indebtedness and any preferred equity of our subsidiaries as well as to any of our existing or future indebtedness that may be guaranteed by any of our subsidiaries (to the extent of any such guarantee). Our 9.875% Senior Notes due 2030 are listed on Nasdaq under the symbol “NYMTH.” The last reported sale price of our 9.875% Senior Notes due 2030 on Nasdaq on August 21, 2025 was $25.30 per note. The notes are expected to trade “flat,” meaning that purchasers will not pay, and sellers will not receive, any accrued and unpaid interest on the notes that is not included in the trading price. Investing in the notes involves risks that are described under the caption “Risk Factors” beginning on page S-5of this prospectus supplement, as well as those described in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024and Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2025and as updated by those risks described in our subsequent filings with the Securities and Exchange Commission (the “SEC”) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which are incorporated by reference in this prospectus supplement.

| ​              | ​ | ​ | Per Note |   |       |   | ​ | ​ | Total ProceedsTo Us BeforeExpenses(1) |   |            |   | ​ |
|:---------------|:--|:--|:---------|:--|------:|:--|:--|:--|:--------------------------------------|:--|-----------:|:--|:--|
| Offering price | ​ | ​ | ​        | $ | 25.00 | ​ | ​ | ​ | ​                                     | $ | 25,000,000 | ​ | ​ |

(1) There are no underwriting discounts, commissions or brokers fees in connection with this offering and sale. Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus supplement or the accompanying prospectus is truthful or complete. Any representation to the contrary is a criminal offense. Delivery of the notes being offered pursuant to this prospectus supplement and the accompanying prospect