Company: ADAMM
Filing Date: 2025-07-01
Form Type: 424B5
Source: 0001104659-25-064730
Chunk: 1

Company: ADAMAS TRUST, INC.
Filing Date: 2025-07-01
Form: 424B5
Chunk 1
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daq Global Select Market (“Nasdaq”) under the symbol “NYMTH”. If approved for listing, trading on Nasdaq is expected to begin within 30 days of July 8, 2025, the original issue date. The notes are expected to trade “flat,” meaning that purchasers will not pay, and sellers will not receive, any accrued and unpaid interest on the notes that is not included in the trading price. Investing in the notes involves risks that are described under the caption “Risk Factors” beginning on page S-9of this prospectus supplement, as well as those described 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, 2025and as updated by those risks described in our subsequent filings with the Securities and Exchange Commission (the “SEC”) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which are incorporated by reference in this prospectus supplement.

| ​                                      | ​ | ​ | Per Note |   |         |   | ​ | ​ | Total(1) |   |            |   | ​ |
|:---------------------------------------|:--|:--|:---------|:--|--------:|:--|:--|:--|:---------|:--|-----------:|:--|:--|
| Public offering price                  | ​ | ​ | ​        | $ |   25.00 | ​ | ​ | ​ | ​        | $ | 85,000,000 | ​ | ​ |
| Underwriting discounts and commissions | ​ | ​ | ​        | $ |  0.7875 | ​ | ​ | ​ | ​        | $ |  2,677,500 | ​ | ​ |
| Proceeds to us (before expenses)       | ​ | ​ | ​        | $ | 24.2125 | ​ | ​ | ​ | ​        | $ | 82,322,500 | ​ | ​ |

(1) Assumes no exercise of the underwriters’ over-allotment option. Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus supplement or the accompanying prospectus is truthful or complete. Any representation to the contrary is a criminal offense. We have also granted the underwriters an option to purchase within 30 days from the date of this prospectus