Company: ADAMM
Filing Date: 2025-01-10
Form Type: 424B5
Source: 0001104659-25-002551
Chunk: 41

Company: ADAMAS TRUST, INC.
Filing Date: 2025-01-10
Form: 424B5
Chunk 41
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, dated the date of this prospectus supplement, each underwriter named below has severally and not jointly agreed to purchase, and we have agreed to sell to that underwriter, the principal amount of the notes set forth opposite that underwriter’s name.

| Underwriters                | ​ | ​ | PrincipalAmount |   |            |   | ​ |
|:----------------------------|:--|:--|:----------------|:--|-----------:|:--|:--|
| Morgan Stanley & Co. LLC    | ​ | ​ | ​               | $ | 15,000,000 | ​ | ​ |
| Piper Sandler & Co.         | ​ | ​ | ​               | ​ | 15,000,000 | ​ | ​ |
| RBC Capital Markets, LLC    | ​ | ​ | ​               | ​ | 15,000,000 | ​ | ​ |
| UBS Securities LLC          | ​ | ​ | ​               | ​ | 15,000,000 | ​ | ​ |
| Wells Fargo Securities, LLC | ​ | ​ | ​               | ​ | 15,000,000 | ​ | ​ |
| Total                       | ​ | ​ | ​               | $ | 75,000,000 | ​ | ​ |

The underwriting agreement will provide that the obligations of the underwriters to purchase the notes included in this offering are subject to approval of legal matters by counsel and to other conditions. The underwriters are obligated to purchase all of the notes in the offering if any are purchased, other than those notes covered by the over-allotment option described below. The underwriting agreement also provides that if an underwriter defaults, the purchase commitments of non-defaulting underwriters may be increased or the offering of notes may be terminated. Option to Purchase Additional Notes We have granted to the underwriters an option, exercisable for 30 days from the date of this prospectus supplement, to purchase on a pro rata basis up to an additional $11,250,000 aggregate principal amount of notes at the initial public offering price less the underwriting discounts and commissions. The underwriters may exercise the option solely for the purpose of covering over-allotments, if any, in connection with this offering. To the extent the option is exercised, each underwriter must purchase an aggregate principal amount of the notes approximately proportionate to that underwriter’s initial purchase commitment. Underwriting Discounts and Expenses The underwriters propose to offer the notes initially at the public offering price set forth on