Company: ADAMM
Filing Date: 2025-06-13
Form Type: 424B5
Source: 0001104659-25-059349
Chunk: 17

Company: ADAMAS TRUST, INC.
Filing Date: 2025-06-13
Form: 424B5
Chunk 17
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 10-Q for the quarterly period ended March 31, 2025, and as updated by those risks described in our subsequent filings with the SEC under the Exchange Act, which are incorporated by reference into this prospectus supplement and the accompanying prospectus.

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TABLE OF CONTENTS

### RISK FACTORS
Investing in shares of the Offered Stock involves a high degree of risk. Please see the risks described below in addition to the risk factors included 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 March 31, 2025, as updated by those risks described in our subsequent filings with the SEC under the Exchange Act. Such risks are not the only risks we face. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial may also materially adversely affect us and the market value of the Offered Stock. The risks described could affect our business, financial condition, liquidity, results of operations, prospects, and the market value of the Offered Stock. In such a case, you may lose all or part of your original investment. You should consider carefully the risks described below and in these reports, as well as other information and data set forth in this prospectus supplement, the accompanying prospectus and the documents incorporated by reference herein and therein before making an investment decision with respect to the Offered Stock.

We may not be able to pay dividends or other distributions on the Offered Stock.

Under Maryland law, no distributions on capital stock may be made if, after giving effect to the distribution, (a) the corporation would not be able to pay the indebtedness of the corporation as such indebtedness becomes due in the usual course of business or, (b) except in certain limited circumstances when distributions are made from net earnings, the corporation’s total assets would be less than the sum of the corporation’s total liabilities plus, unless the charter provides otherwise (which our charter does, with respect to our Series D Preferred Stock, our Series E Preferred Stock, our Series F Preferred Stock and our Series G Preferred Stock), the amount that would be needed, if the corporation were to be dissolved at the time of the distribution, to satisfy the preferential rights upon dissolution of stockholders whose preferential rights on dissolution are superior to those receiving the distribution. There can be no guarantee that we will have sufficient cash to pay dividends on our preferred stock.