Company: ADAMM
Filing Date: 2025-08-22
Form Type: 424B5
Source: 0001104659-25-081920
Chunk: 17

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-22
Form: 424B5
Chunk 17
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 issued on July 8, 2025. The notes offered hereby will be treated as a single series with the initial notes for all purposes under the indenture, including without limitation waivers, amendments, redemptions and offers to purchase. Upon completion of this offering, the aggregate principal amount of the outstanding notes will be $115.0 million.

The notes will be issued only in fully registered form without coupons, in minimum denominations of $25 and integral multiples of $25 in excess thereof. The notes will be evidenced by one or more global notes in book-entry only form, except under the limited circumstances described under “— Certificated Notes.” The notes are listed on Nasdaq under the symbol “NYMTH”.

The notes will not be convertible into, or exchangeable for, our common stock or any other securities. The indenture will not contain any financial covenants and will not restrict us from paying dividends or issuing or repurchasing any of our other securities. Other that the restrictions described under “Description of Debt Securities — Consolidation, Merger and Sale of Assets” in the accompanying prospectus, the indenture will not contain any covenants or other provisions designed to afford holders of the notes protection in the event of a takeover, recapitalization, highly leveraged transaction or similar restructuring involving us that could adversely affect such holders.

#### Ranking
The notes:

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will be our senior direct unsecured obligations;

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will rank equal in right of payment to any of our existing and future unsecured and unsubordinated indebtedness that is not so subordinated;

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will be effectively subordinated in right of payment to any of our existing and future secured indebtedness to the extent of the value of the assets securing such indebtedness; and

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will be structurally subordinated to all existing and future indebtedness and other liabilities (including trade payables) and (to the extent not held by us) preferred stock, if any, of our subsidiaries and of any entity we account for using the equity method of accounting.

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TABLE OF CONTENTS

As of June 30, 2025, our total consolidated indebtedness was approximately $9.2 billion, of which approximately $3.4 billion was in the form of securitized debt, $4.9 billion was in the form of repurchase agreements and $0.5 billion was in the form of mortgages on multi-family properties. As of June 30, 2025 we had approximately $242