Company: ADAMM
Filing Date: 2025-06-13
Form Type: 424B5
Source: 0001104659-25-059349
Chunk: 16

Company: ADAMAS TRUST, INC.
Filing Date: 2025-06-13
Form: 424B5
Chunk 16
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 Stock is listed on Nasdaq under the symbol “NYMTN.”

Our Series E Preferred Stock is listed on Nasdaq under the symbol “NYMTM.”

Our Series F Preferred Stock is listed on Nasdaq under the symbol “NYMTL.”

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TABLE OF CONTENTS

Our Series G Preferred Stock is listed on Nasdaq under the symbol “NYMTZ.”

Conversion Rights

Upon the occurrence of a Change of Control, each holder of shares of Outstanding Series of Preferred Stock will have the right (unless we have exercised our right to redeem the Outstanding Series of Preferred Stock in whole or in part, as described above under “— Optional Redemption” or “— Special Optional Redemption,” prior to the change of control conversion date for such series) to convert some or all of the shares of Outstanding Series of Preferred Stock held by such holder on the change of control conversion date for such series into a certain number of shares of our common stock. See the sections entitled “Description of the Offered Stock — Our Series D Preferred Stock — Conversion Rights,” “Description of the Offered Stock — Our Series E Preferred Stock — Conversion Rights,” “Description of the Offered Stock — Our Series F Preferred Stock — Conversion Rights” and “Description of the Offered Stock — Our Series G Preferred Stock — Conversion Rights,” in this prospectus supplement.

Use of Proceeds

We expect to use the net proceeds of 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.

U.S. Federal Income Tax Considerations

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

Risk Factors

An investment in the Offered Stock is subject to a high degree of risk. For a discussion of factors you should carefully consider before investing in the Offered Stock, please refer to the 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, 2024 and Quarterly Report on Form