Welcome to our dedicated page for Sachem Capital news (Ticker: SACH), a resource for investors and traders seeking the latest updates and insights on Sachem Capital stock.
Sachem Capital Corp. reports developments as a mortgage REIT focused on short-term, secured nonbanking loans to real estate investors. The company originates, underwrites, funds, services, and manages loans secured by first mortgage liens on residential and commercial real estate, with uses that include acquisition, renovation, development, rehabilitation, and improvement of properties. Its updates also address opportunistic real estate purchases outside its lending portfolio.
Recurring news for SACH includes quarterly and annual earnings releases, loan portfolio and credit-profile commentary, capital structure and liquidity updates, common and preferred stock dividends, REIT distribution tax reporting, and financing arrangements tied to its real estate lending platform.
Sachem Capital Corp. (NYSE American: SACH) has successfully completed an additional sale of $3 million in 7.75% unsecured unsubordinated notes due 2025, raising the total offering to $28 million. The notes were sold at a 1% discount, resulting in gross proceeds of $27.72 million. Combined with previous issuances, the total principal of the 2025 Notes now stands at $56.36 million. The company specializes in short-term secured loans for real estate investors, primarily in Connecticut, and has elected to be taxed as a REIT since 2017.
Sachem Capital Corp. (NYSE American: SACH) has declared a quarterly dividend of $0.12 per share to shareholders recorded as of December 31, 2020, payable on January 8, 2021. This dividend brings the total for 2020 to $0.48 per share, showcasing the company's resilience during the COVID-19 pandemic. Additionally, Sachem completed a $25 million public offering of 7.75% notes due 2025, with an additional $3 million from overallotment, enhancing its financial capacity to meet market demand for its loan products.
Sachem Capital Corp. (NYSE American: SACH) has priced a public offering of $25 million in 7.75% unsecured notes due 2025. The gross proceeds are estimated at $24.75 million, with net proceeds projected to be around $23.95 million after expenses. This note issuance builds on the previously issued 2025 Notes worth approximately $28.36 million. The offering is scheduled to close on December 22, 2020, with a potential additional purchase option of $3.75 million. Egan-Jones Ratings Company has assigned a BBB+ rating to the notes.
Sachem Capital Corp. (NYSE American: SACH) has announced a registered public offering of unsecured, unsubordinated notes, which will be issued alongside the existing $28,363,750 7.75% Notes due 2025. The new notes will rank equally with the company's other unsecured debts. The offering is rated BBB+ by Egan-Jones Ratings Company. Ladenburg Thalmann & Co. Inc. and Janney Montgomery Scott LLC are managing the offering. Investors are advised to review the preliminary prospectus for detailed information on the offering and associated risks.