Company: ADAMM
Filing Date: 2025-01-14
Form Type: 8-K
Source: 0001104659-25-003447
Chunk: 1

Company: ADAMAS TRUST, INC.
Filing Date: 2025-01-14
Form: 8-K
Item: Item 8.01
Chunk 1
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 of each year, beginning on April 1, 2025, and are expected to mature April 1, 2030 (the “ Maturity Date”),
unless earlier redeemed. The Company may redeem the Notes in whole or in part at any time or from time to time at the Company’s
option on or after April 1, 2027, upon not less than 30 days nor more than 60 days written notice to holders prior to the redemption date,
at a redemption price equal to 100% of the outstanding principal amount of the Notes to be redeemed plus accrued and unpaid interest to,
but excluding, the redemption date, as described in greater detail in the Indenture (as defined below).

The Notes were issued under
the indenture, dated January 23, 2017 (the “ Base Indenture”), as supplemented by the third supplemental indenture, dated January
14, 2025 (the “ Third Supplemental Indenture,” and together with the Base Indenture, the “ Indenture”), by and between
the Company and U. S. Bank Trust Company, National Association, as successor to U. S. Bank National Association, as trustee. The Notes are
senior unsecured obligations of the Company that rank senior in right of payment to any future indebtedness of the Company that is expressly
subordinated in right of payment to the Notes, equal in right of payment to the Company’s existing and future unsecured indebtedness
that is not so subordinated, including the Company’s 5.75% Senior Notes due 2026 and 9.125% Senior Notes due 2029, effectively subordinated
in right of payment to any of the Company’s existing and future secured indebtedness to the extent of the value of the assets securing
such indebtedness, and structurally subordinated to all existing and future indebtedness and other liabilities (including trade payables)
and (to the extent not held by the Company) preferred stock, if any, of the Company’s subsidiaries and of any entity the Company
accounts for using the equity method of accounting.

The Indenture contains customary
events of default. If there is an event of default under the Notes, the principal amount of the Notes, plus accrued and unpaid interest
(including additional interest, if any), may be declared immediately due and payable, subject to certain conditions set forth in the Indenture.

The net proceeds to the Company
from the sale of the Notes, after deduct