Company: ADAMM
Filing Date: 2025-06-13
Form Type: 424B5
Source: 0001104659-25-059349
Chunk: 119

Company: ADAMAS TRUST, INC.
Filing Date: 2025-06-13
Form: 424B5
Chunk 119
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 receive payment on that payment date.

Payments by Direct and Indirect Participants to beneficial owners will be governed by standing instructions and customary practices, as is the case with securities held for the accounts of customers in bearer form or registered in “street name.” These payments will be the responsibility of the participant and not of DTC, us or any agent of ours.

DTC may discontinue providing its services as securities depositary with respect to the Offered Stock at any time by giving reasonable notice to us. Additionally, we may decide to discontinue the book-entry only system of transfers with respect to the Offered Stock. In that event, we will print and deliver certificates in fully registered form for the Offered Stock. If DTC notifies us that it is unwilling to continue as securities depositary, or it is unable to continue or ceases to be a clearing agency registered under the Exchange Act and a successor depositary is not appointed by us within 90 days after receiving such notice or becoming aware that DTC is no longer so registered, we will issue the Offered Stock in definitive form, at our expense, upon registration of transfer of, or in exchange for, such global security.

According to DTC, the foregoing information with respect to DTC has been provided to the financial community for informational purposes only and is not intended to serve as a representation, warranty or contract modification of any kind.

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TABLE OF CONTENTS

<div align='center'>**ADDITIONAL MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS**</div>

The following is a summary of additional material U.S. federal income tax considerations with respect to the ownership of our stock but does not purport to be a complete analysis of all of the potential tax considerations relating thereto. This summary supplements, and where applicable, supersedes and should be read together with the discussion under “Material U.S. Federal Income Tax Considerations” beginning on page 37 of the accompanying prospectus.

Affiliated REITs . We have formed, and may in the future form, or acquire equity in, entities which have elected or will elect to be taxed as REITs. Each of these entities must meet all of the REIT qualification tests discussed in “Material U.S. Federal Income Tax Considerations — Requirements for Qualification” in the accompanying prospectus. Each of them also may be subject to tax on certain of its income as described therein. We believe that our subsidiary REIT has been organized and