Company: ADAMM
Filing Date: 2025-06-13
Form Type: 424B5
Source: 0001104659-25-059349
Chunk: 34

Company: ADAMAS TRUST, INC.
Filing Date: 2025-06-13
Form: 424B5
Chunk 34
---
 which will be the actual number of days elapsed during that Dividend Period and the denominator of which will be 360, and by multiplying the result by the aggregate liquidation preference of the Series D Preferred Stock. Dividends will be payable to holders of record as they appear on our stock records at the close of business on the applicable record date, which will be the first day of the calendar month (whether or not a business day) in which the applicable Dividend Payment Date falls (each, a “dividend record date”). The dividends payable on any dividend payment date will include dividends accumulated to, but not including, such dividend payment date.

The publication of three-month LIBOR ceased after June 30, 2023. Pursuant to the Series D Articles Supplementary and the applicability of the LIBOR Act (as defined below) to the Series D Preferred Stock, given all of the information available to the Company as of the date of this prospectus supplement, the Company believes that Three-Month CME Term SOFR plus the applicable tenor spread adjustment of 0.26161% per annum will automatically replace three-month LIBOR as the reference rate for calculations of the dividend rate payable on the Series D Preferred Stock for dividend periods during the Floating Rate Period.

“LIBOR Act” means the Adjustable Interest Rate (LIBOR) Act of 2021, which establishes benchmark replacements for contracts governed by U.S. law that reference certain tenors of U.S. dollar LIBOR (the overnight and one-, three-, six-, and 12-month tenors) and that do not have terms that provide for the use of a clearly defined and practicable replacement benchmark rate following the first London banking day after June 30, 2023.

<div align='center'>S-17</div>

TABLE OF CONTENTS

“SOFR” means the secured overnight financing rate published by the Federal Reserve Bank of New York (“FRBNY”), as the administrator of the Benchmark (or a successor administrator), on FRBNY’s Website.

“Three-Month CME Term SOFR” means the CME Term SOFR Reference Rates published for three-month tenors as administered by CME Group Benchmark Administration, Ltd. (or any successor administrator thereof).

The calculation agent’s determination of any interest rate, and its calculation of the amount of dividends for any Dividend Period, will be on file at our principal offices, will be made available to any holder of Series D Preferred Stock upon request and will be final and binding in the absence of