Company: ADAMM
Filing Date: 2025-06-13
Form Type: 424B5
Source: 0001104659-25-059349
Chunk: 20

Company: ADAMAS TRUST, INC.
Filing Date: 2025-06-13
Form: 424B5
Chunk 20
---
 Unrated Preferred Stock in the future. Furthermore, we may elect to issue other securities for which we may seek to obtain a rating. If any ratings are assigned to our Unrated Preferred Stock in the future, or if we issue other securities with a rating, such ratings, if they are lower than market expectations or are subsequently lowered or withdrawn, could adversely affect the market for or the market value of our Outstanding Series of Preferred Stock.

Ratings only reflect the views of the issuing rating agency or agencies and such ratings could at any time be revised downward or withdrawn entirely at the discretion of the issuing rating agency. Further, a rating is not a recommendation to purchase, sell or hold any particular security, including our Outstanding Series of Preferred Stock. In addition, ratings do not reflect market prices or suitability of a security for a particular investor and any future ratings of our Outstanding Series of Preferred Stock may not reflect all risks related to us and our business, or the structure or market value of our Outstanding Series of Preferred Stock.

An adverse rating of the Series F Preferred Stock or the Series G Preferred Stock may cause their trading prices to fall.

Any rating assigned to the Series F Preferred Stock or the Series G Preferred Stock reflects the applicable rating agency’s assessment of the likelihood that the holders of the Series F Preferred Stock or the Series G Preferred Stock, as applicable, will receive the payments required to be made pursuant to the terms of the Series F Preferred Stock or the Series G Preferred Stock, as applicable. A rating reflects only the view of a rating agency and is not the view of our Company or a recommendation to buy, sell or hold the

<div align='center'>S-8</div>

TABLE OF CONTENTS

Series F Preferred Stock or the Series G Preferred Stock. Any rating can be revised upward or downward or withdrawn at any time by a rating agency if it decides that circumstances warrant that change. If rating agencies assign a lower-than-expected rating or reduce, or indicate that they may reduce, their ratings in the future, the trading price of the Series F Preferred Stock or the Series G Preferred Stock could significantly decline.

We may issue additional shares of our Outstanding Series of Preferred Stock and additional series of our Parity Stock.

We are permitted to issue additional shares of our Outstanding Series of Preferred Stock and additional series or classes of our Parity Stock, pursuant to our charter, without any vote of the holders of our Outstanding Series of Preferred Stock or holders of shares of our outstanding common stock. The issuance of additional shares of our Outstanding Series of Preferred Stock and