Sachem Capital Corp. announces the sale of an additional $2.5 million of 7.125% notes resulting from the exercise of the over-allotment option

Sachem Capital Corp.

BRANFORD, Conn., June 03, 2022 (GLOBE NEWSWIRE) — Sachem Capital Corp. (NYSE American: SACH) sold an additional initial $2.5 million of its 7.125% unsecured and unsubordinated notes due 2027 (“Notes”) pursuant to the exercise, in part, of the underwriters’ over-allotment option from the previously announced public offering, bringing the total gross proceeds of the offering to $30.0 million and net proceeds to $28.8 million after payment of discounts and underwriting commissions and estimates offering costs borne by the company.

The Notes trade under the symbol “SCCF”.

Ladenburg Thalmann & Co. Inc., Janney Montgomery Scott LLC, InspereX LLC and William Blair & Company, LLC acted as joint bookrunners for the offering.

About Sachem Capital Corp.

Sachem Capital Corp. specializes in the origination, underwriting, financing, servicing and management of a portfolio of first mortgage loans. It offers short-term (i.e. three years or less) secured non-bank loans (sometimes referred to as “hard money” loans) to property investors to finance the acquisition, renovation, development, rehabilitation or improvement of properties located primarily in Connecticut. . The company does not lend to owner occupiers. The company’s primary underwriting criteria is a conservative loan-to-value ratio. The properties securing the Company’s loans are generally classified as residential or commercial real estate and are generally held for the purpose of resale or investment. Each loan is secured by a first ranking mortgage on real estate. Each loan is also personally guaranteed by the principal(s) of the borrower, which security may be secured as security by a pledge of the guarantor’s interest in the borrower. The company also makes opportunistic real estate purchases outside of its lending business. The company believes that it qualifies as a real estate investment trust (REIT) for federal income tax purposes and has elected to be taxed as a REIT beginning with its 2017 tax year.

Forward-looking statements

This press release may contain forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future operating results and financial condition, our strategy and plans, and our expectations for future operations, are statements prospective. The words “anticipate”, “estimate”, “expect”, “project”, “plan”, “seek”, “intend”, “believe”, “may”, “might”, ” will”, “should”, “could”, “likely”, “continue”, “design” and the negative form of these terms and other similar words and phrases are intended to identify forward-looking statements.

We have based these forward-looking statements largely on our current expectations and projections regarding future events and trends that we believe may affect our financial condition, results of operations, strategy, business and business objectives in the near and future. long term and our financial needs. These forward-looking statements are subject to several risks, uncertainties and assumptions, as described in our 2021 Annual Report on Form 10-K filed with the United States Securities and Exchange Commission on March 31, 2022. Due to these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this press release may not occur, and actual results may differ materially and adversely from those anticipated or implied by the forward-looking statements.

You should not rely on forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance or achievements. Further, neither we nor any other person assumes responsibility for the accuracy and completeness of such forward-looking statements. We disclaim any obligation to update any of these forward-looking statements.

All forward-looking statements attributable to us are expressly qualified in their entirety by these and other cautionary statements made in this press release. You should evaluate all forward-looking statements made by us in the context of these risks and uncertainties.

Investor and media contact:
Crescendo Communications, LLC
Tel: (212) 671-1021

About Charles D. Goolsby

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