Company: ADAMM
Filing Date: 2025-06-13
Form Type: 424B5
Source: 0001104659-25-059349
Chunk: 23

Company: ADAMAS TRUST, INC.
Filing Date: 2025-06-13
Form: 424B5
Chunk 23
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 Preferred Stock prior to October 15, 2026, or our Series G Preferred Stock prior to January 15, 2027, we have a special optional redemption right to redeem our Outstanding Series of Preferred Stock in the event of a Change of Control, and holders of our Outstanding Series of Preferred Stock will not have the right to convert any shares that we have elected to redeem prior to the Change of Control Conversion Date for the respective series. Please see the sections entitled “Description of the Offered Stock — Our Series D Preferred Stock — Redemption,” “Description of the Offered Stock — Our Series E Preferred Stock — Redemption,” “Description of the Offered Stock — Our Series F Preferred Stock — Redemption,” “Description of the Offered Stock — Our Series G Preferred Stock — Redemption,” “Description of the Offered Stock — Our Series D Preferred Stock — Conversion Rights,” “Description of the Offered Stock — Our Series E Preferred Stock — Conversion Rights,” “Description of the Offered Stock — Our Series F Preferred Stock — Conversion Rights” and “Description of the Offered Stock — Our Series G Preferred Stock — Conversion Rights” in this prospectus supplement.

If we do not elect to redeem our Outstanding Series of Preferred Stock prior to the Change of Control Conversion Date for the respective series, then upon an exercise of the conversion rights provided to the holders of our Outstanding Series of Preferred Stock, the holders of our Outstanding Series of Preferred Stock will be limited to a maximum number of shares of our common stock (or, if applicable, the Alternative Conversion Consideration (as defined in “Description of the Offered Stock — Our Series D Preferred Stock — Conversion Rights,” “Description of the Offered Stock — Our Series E Preferred Stock — Conversion Rights,” “Description of the Offered Stock — Our Series F Preferred Stock — Conversion Rights” and “Description of the Offered Stock — Our Series G Preferred Stock — Conversion Rights” in this prospectus supplement) equal to the Share Cap for the respective series (as defined in “Description of the Offered Stock — Our Series D Preferred Stock — Conversion Rights,” “Description of the Offered Stock — Our Series E Preferred Stock — Conversion Rights,” “Description of the Offered Stock — Our Series F Preferred Stock — Conversion Rights” and “Description of the Offered Stock — Our Series G Preferred Stock — Conversion Rights” in this prospectus supplement)) multiplied by the number of shares of Outstanding Series of Preferred Stock converted.

In addition, the Change of Control conversion feature of our Outstanding Series of Preferred Stock may have the