Company: AOMN
Filing Date: 2025-05-16
Form Type: 424B5
Source: 0001104659-25-050029
Chunk: 10

Company: Angel Oak Mortgage REIT, Inc.
Filing Date: 2025-05-16
Form: 424B5
Chunk 10
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 or to make any funds available to us for payment on the notes, whether

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TABLE OF CONTENTS

by dividends, loans or other payments. The indenture governing the notes will not limit the amount of debt that we, the Guarantor or our subsidiaries may incur.

Guarantee

The notes will be fully and unconditionally guaranteed on a senior unsecured basis by the Guarantor. The guarantee will be a senior unsecured obligation of the Guarantor. The guarantee will:

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rank equal in right of payment to any of the Guarantor’s existing and future unsecured and unsubordinated indebtedness and guarantees of the Guarantor;

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be effectively subordinated in right of payment to any of the Guarantor’s existing and future secured indebtedness and secured guarantees to the extent of the value of the assets securing such indebtedness or guarantees; and

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be structurally subordinated to all existing and future indebtedness and other liabilities (including trade payables) and (to the extent not held by the Guarantor) preferred stock, if any, of the Guarantor’s subsidiaries and of any entity the Guarantor accounts for using the equity method of accounting.

Optional redemption; no sinking fund; no repayment at option of the holders

On or after June 1, 2027, we may redeem for cash all or any portion of the notes, at our option, at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. No “sinking fund” will be provided for the notes, which means that we are not required to redeem or retire the notes periodically.

The notes will not be subject to repayment at the option of the holder prior to the stated maturity date.

Change of Control Offer to Repurchase

Upon a Change of Control Repurchase Event, we will be required to make an offer to repurchase all outstanding notes at a price in cash equal to 101% of the principal amount of the notes, plus accrued and unpaid interest to, but excluding, the repurchase date. See “Description of the Notes — Offer to Repurchase Upon a Change of Control Repurchase Event” in this prospectus supplement.

Default

The notes will contain certain events of default as described in this prospectus supplement (each an “Event of Default”), the occurrence of which may, and in certain cases shall, result in the acceleration of our obligations under the notes. See “Description of the