Sachem Capital Corp. assesses the registered public offer of


BRANFORD, Connecticut, December 14, 2021 (GLOBE NEWSWIRE) – Sachem Capital Corp. (NYSE American: SACH) announces the price of a registered public offering of $ 45.0 million in aggregate principal of 6.0% of unsecured and unsubordinated notes due 2026 (“Notes”). The net proceeds of the offering to Sachem Capital Corp. is expected to be approximately $ 43.3 million after payment of sales rebates and sales commissions and the estimated offering fees payable by Sachem Capital Corp.

The offer is scheduled to close on December 20, 2021, subject to customary closing conditions. Sachem Capital Corp. has granted the Underwriters a 30-day option to purchase up to an additional $ 6.75 million in aggregate principal amount of Notes to cover over-allotments, if any.

Notes will be classified pari passu with all unsecured and unsubordinated debt of the company, whether currently outstanding or issued in the future. The Notes are expected to be listed on the NYSE American under the ticker symbol “SCCD” and begin trading on or about December 22, 2021.

The Notes will mature on December 30, 2026 and may be redeemed, in whole or in part, at any time or from time to time, at the option of the Company, effective December 20, 2023. Interest on the Notes will accrue at at the annual rate of 6.0% and will be payable quarterly, in arrears, on March 30, June 30, September 30 and December 30 during which the notes are in circulation, starting on March 30, 2022.

The Notes have a private credit rating of BBB + from Egan-Jones Ratings Company, an independent and unaffiliated rating agency. Egan-Jones is a Nationally Recognized Statistical Rating Organization (NRSRO) and is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP). Egan-Jones is also certified by the European Securities and Markets Authority (ESMA). A security rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.

Ladenburg Thalmann & Co. Inc., Janney Montgomery Scott LLC, InspereX LLC and William Blair & Company, LLC are acting as co-book managers for the offering. Colliers Securities LLC acts as co-manager of the offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of this offering or any other security and there will be no sale of the Notes or any other security referred to in this press release. press release in any state or jurisdiction in which such offering, solicitation or sale would be illegal before registration or qualification under the securities laws of that state or jurisdiction.

A registration statement relating to, among other things, the Notes has been filed and has been declared effective by the Securities and Exchange Commission. The offer is being made only by means of a related prospectus supplement and an attached base prospectus forming part of the actual registration statement, copies of which may be obtained, where available, from: Ladenburg Thalmann & Co. Inc. upon written request to Syndicate Department,, 640 5th Avenue, 4th Floor, New York, NY 10019 (phone number 1-800-573-2541) or by sending an email to prospectus @ ladenburg .com; Janney Montgomery Scott LLC, upon written request to 1717 Arch Street Philadelphia, PA 19103 (telephone number 1-800-526-6397) or by sending an e-mail to [email protected]; or InspereX LLC, Attn .: Syndicate Department, 200 S. Wacker Drive, Suite 3400, Chicago, IL 60606 (phone number 1-800-327-1546) or by emailing prospectus_requests @ insperex. com; or William Blair & Company, LLC upon written request to 150 North Riverside Plaza, Chicago, Illinois 60606 (telephone number 1-800-621-0687) or by sending an email to [email protected] Copies can also be obtained free of charge by visiting EDGAR on the SEC’s website at http://www.sec.gov.

Sachem Capital Corp. has filed a preliminary prospectus supplement, dated December 14, 2021, with the Securities and Exchange Commission, which contains a more detailed description of the Notes and the terms of the Offer. The preliminary prospectus supplement, dated December 14, 2021, and the accompanying base prospectus, dated June 17, 2021, which contains other important information about Sachem Capital Corp., should be read carefully before investing in the Notes. Investors are encouraged to carefully consider their personal investment objectives, the risks associated with Sachem Capital Corp., in general, and the Notes in particular, and other matters relating to Sachem Capital Corp., its business, operations and its financial situation, before investing in the notes.

About Sachem Capital Corp.

Sachem Capital Corp. specializes in the granting, underwriting, financing, management and management of a portfolio of senior mortgages. It offers short-term (i.e. three years or less) secured non-bank loans (sometimes referred to as “hard money” loans) to real estate investors to finance their acquisition, renovation, development, rehabilitation or improvement of property. properties located primarily in Connecticut. . The company does not lend to owner occupiers. The main underwriting criterion of the company is a prudent loan-to-value ratio. The properties securing the company’s loans are generally classified as residential or commercial real estate and generally are held for resale or investment. Each loan is secured by a first mortgage on real estate. Each loan is also personally guaranteed by the principal (s) of the borrower, which collateral can be secured 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 it qualifies as a real estate investment trust (REIT) for federal income tax purposes and has elected to be taxed as a REIT as of its 2017 tax year.

Forward-looking statements

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

We have based these forward-looking statements in large part on our current expectations and projections regarding future events and trends that we believe could affect our financial condition, results of operations, strategy, business operations and short and long term goals. term and our financial needs. These forward-looking statements are subject to several risks, uncertainties and assumptions, as described in our Annual Report on Form 10-K for 2020 filed with the United States Securities and Exchange Commission on March 31, 2021. Due to these risks, uncertainties and assumptions, the forward-looking events and circumstances mentioned in this press release may not occur, and actual results could differ materially and adversely from those anticipated or implied in 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 forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance or achievements. In addition, neither we nor any other person assumes responsibility for the accuracy and completeness of these 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 cautionary statements and others contained in this press release. You should assess all forward-looking statements we make in the context of these risks and uncertainties.

Investor and media contact:
Crescendo Communications, LLC
Email: [email protected]
Phone. : (212) 671-1021


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