Sachem Capital Stock Price, News & Analysis

Sachem Capital Corp. (SACH) has successfully closed a public offering of $35 million in unsecured notes with an 8% interest rate, due in 2027. The net proceeds are approximately $33.7 million, earmarked primarily for working capital to fund new real estate loans. The company is also offering an additional $5.25 million in notes to cover over-allotments. The notes will trade under the symbol SCCG starting August 25, 2022, and are rated BBB+ by Egan-Jones Ratings Company. This offering aligns with Sachem's strategy as a real estate investment trust.

Sachem Capital Corp. (NYSE American: SACH) announced a public offering of unsecured, unsubordinated notes due in five years. These notes will rank pari passu with the company’s other unsecured debts and are expected to trade on the NYSE American under the symbol “SCCG” within 30 days of issuance. The notes have a BBB+ credit rating from Egan-Jones Ratings Company. The offering is managed by Ladenburg Thalmann, Janney Montgomery Scott, InspereX, and William Blair.

A preliminary prospectus supplement was filed with the SEC on August 17, 2022.

Sachem Capital Corp. (NYSE American: SACH) reported significant financial growth in its Q2 2022 results, achieving $4.3 million in net income attributable to common shareholders and $5.8 million in non-GAAP adjusted earnings, equating to earnings per share of $0.12 and $0.16, respectively.

Revenue surged 86.9% to $12.5 million, driven by increased lending operations and a new web-based underwriting platform. Total assets rose 25.7% to approximately $525.4 million, while total liabilities increased 34.7% to about $320.4 million.

Sachem Capital Corp. (NYSE American: SACH) has appointed John E. Warch, CPA, as the new Executive Vice President and Chief Financial Officer, effective August 1, 2022. Warch brings over 40 years of corporate finance expertise, having previously served as CFO and Senior VP at Four Springs Capital Trust. CEO John Villano expressed optimism about Warch's extensive experience in corporate finance, anticipating positive contributions to the company’s growth. Sachem Capital specializes in securing first mortgage loans for real estate investors, focusing on Connecticut properties.

Sachem Capital Corp. (SACH) announced a quarterly dividend of $0.14 per share, a 16% increase from the previous quarter. Shareholders on record by July 21, 2022, will receive the payment on July 28, 2022. The company focuses on providing short-term, non-banking loans to real estate investors, primarily in Connecticut. Each loan is secured by a first mortgage, ensuring a conservative approach to underwriting. Sachem believes it qualifies as a real estate investment trust (REIT) for federal tax purposes.

Sachem Capital Corp. (SACH) has successfully sold an additional $2.5 million in 7.125% unsecured notes due 2027, following the underwriters’ over-allotment option. This sale brings the total gross proceeds from the offering to $30 million, with net proceeds of $28.8 million after deductions. The notes are traded under the symbol SCCF. The offering was managed by Ladenburg Thalmann, Janney Montgomery Scott, InspirEx, and William Blair.

Sachem Capital Corp. (NYSE American: SACH) announced that Bill Haydon, Chief Investment Officer, will present at the Spring Into Action - Best Ideas Investor Conference from May 16-20, 2022. Haydon's presentation is scheduled for May 18 at 9:00 a.m. ET, available for live webcast and replay. The conference highlights top investment ideas recommended by qualified institutional investors. Interested parties can register for the conference and request one-on-one meetings via the provided email.

Sachem Capital Corp. has successfully closed its registered public offering of $27.5 million in 7.125% unsecured notes due 2027, with net proceeds expected to be around $26.3 million after costs. The offering includes a 30-day option for underwriters to purchase an additional $4.125 million of notes. The notes will mature on June 30, 2027, and interest will be payable quarterly, starting September 30, 2022. Funds raised will primarily support new real estate loans secured by first mortgage liens. The notes are rated BBB+ by Egan-Jones Ratings Company.