Company: ADAMM
Filing Date: 2025-07-01
Form Type: 424B5
Source: 0001104659-25-064730
Chunk: 10

Company: ADAMAS TRUST, INC.
Filing Date: 2025-07-01
Form: 424B5
Chunk 10
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Description of Debt Securities — Events of Default” in the accompanying prospectus.

Book-Entry Form

The notes will be issued in book-entry form and will be represented by one or more permanent global certificates deposited with, or on behalf of, The Depository Trust Company (or DTC) and registered in the name of a nominee of DTC. Beneficial interests in any of the notes will be shown on, and transfers will be effected only through, records maintained by DTC or its nominee and any such interest may not be exchanged for certificated securities, except in limited circumstances.

Listing

No current market exists for the notes. We have applied to list the notes on Nasdaq under the symbol “NYMTH”. If approved for listing, trading on Nasdaq is expected to begin within 30 days of July 8, 2025, the original issue date. We cannot assure you that a market for the notes will develop prior to commencement of trading on Nasdaq, or if developed, will be maintained or will provide you with liquidity.

U.S. Federal Income Tax Considerations

For a discussion of the material U.S. federal income tax considerations of purchasing, owning and disposing of the notes, please see the section entitled “Additional Material U.S. Federal Income Tax Considerations” in this prospectus supplement and “Material U.S. Federal Income Tax Considerations” in the accompanying prospectus.

Trustee and Paying Agent

U.S. Bank Trust Company, National Association.

Use of Proceeds

We expect that the net proceeds from this offering will be approximately $81.7 million (or approximately $94.1

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million if the underwriters exercise their over-allotment option in full) after deducting the underwriting discounts and commissions and our estimated expenses. We intend to use the net proceeds from this offering for general corporate purposes, which may include, among other things, acquiring our targeted assets and various other types of mortgage-, residential housing- and credit-related assets that we may target from time to time and general working capital purposes. See “Use of Proceeds” in this prospectus supplement.

Governing Law

New York.

Risk Factors

Investing in the notes involves risks that are described under the caption “Risk Factors” in this prospectus supplement and 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