Company: ADAMM
Filing Date: 2025-06-13
Form Type: 424B5
Source: 0001104659-25-059349
Chunk: 2

Company: ADAMAS TRUST, INC.
Filing Date: 2025-06-13
Form: 424B5
Chunk 2
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 prospectus supplement.

The Agent will be entitled to compensation of up to 2.0% of the gross proceeds from the sale of the shares of the Offered Stock sold under the equity distribution agreement, as further described herein under the caption “Plan of Distribution.” In connection with the sale of shares of the Offered Stock on our behalf, the Agent may be deemed to be an “underwriter” within the meaning of the Securities Act, and the compensation of the Agent may be deemed to be underwriting commissions or discounts.

Investing in the Offered Stock involves a high degree of risk. See “Risk Factors” beginning on page S-7of 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.

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.**

<div align='center'>**The date of this prospectus supplement is June 13, 2025**</div>

TABLE OF CONTENTS

TABLE OF CONTENTS Prospectus Supplement

| ​                                                            | ​ | ​ | Page |   |      |   | ​ |
| ABOUT THIS PROSPECTUS SUPPLEMENT                             | ​ | ​ | ​    | ​ | S-ii | ​ | ​ |
| CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS         | ​ | ​ | ​    | ​ | S-iv | ​ | ​ |
| WHERE YOU CAN FIND MORE INFORMATION                          | ​ | ​ | ​    | ​ | S-vi | ​ | ​ |
| INCORPORATION BY REFERENCE OF INFORMATION FILED WITH THE SEC | ​ | ​ | ​    | ​ | S-vi | ​ | ​ |
| PROSPECTUS SUPPLEMENT SUMMARY                                | ​ | ​ | ​    | ​ | S-1  | ​ | ​ |
| THE OFFERING                                                 | ​ | ​ | ​    | ​ | S-2  | ​ | ​ |
| RISK FACT