Sachem Capital Corp. Announces Appointment of Jeffery C. Walraven to the Board of Directors
26 Agosto 2024 - 6:00AM
Sachem Capital Corp. (the “Company” or “Sachem Capital”), announced
today that its Board of Directors (the “Board”) has appointed
Jeffery C. Walraven to the Board, effective August 21, 2024. Mr.
Walraven will also stand for election at the Company’s 2024 Annual
Meeting of Shareholders.
“We are pleased to welcome Jeffery Walraven to our
Board,” said John L. Villano, CEO and Chairman of the Board of
Sachem Capital. “Jeff’s deep experience in the real estate
industry, especially in public company leadership, accounting and
capital markets, will be invaluable to Sachem Capital as we grow
our business and pursue value creation for our shareholders.”
Mr. Walraven is Co-Founder and Chief Operating
Officer of Freehold Properties, Inc., a real estate investment
trust (REIT), since its formation in 2019. He has also served as an
independent director and member of the audit committee of Broad
Street Realty, Inc. (OTCQX: BRST), a real estate company that owns,
operates, develops, and redevelops primarily essential
grocery-anchored shopping centers and mixed-use properties, since
2023. From 2014 to 2019, Mr. Walraven served as Executive Vice
President and Chief Financial Officer of MedEquities Realty Trust,
Inc. (formerly NYSE: MRT) and previously served in various
leadership roles at BDO USA, LLP, an international accounting firm,
from 2007 to 2014.
“Jeff’s appointment is a meaningful step in Sachem
Capital’s efforts to refresh the Board,” added Brian Prinz,
independent director and Chair of the Nominating and Corporate
Governance Committee. “Jeff’s public company accounting and
corporate finance expertise as well as his leadership experience
align with the qualities we have been searching for in a new
independent Board member.”
For further information, please refer to the
Company’s Current Report on Form 8-K filed with the SEC on August
26, 2024.
About Sachem Capital Corp.
Sachem Capital Corp. is a mortgage REIT that
specializes in originating, underwriting, funding, servicing, and
managing a portfolio of loans secured by first mortgages on real
property. It offers short-term (i.e. three years or less) secured,
nonbanking loans to real estate investors to fund their
acquisition, renovation, development, rehabilitation, or
improvement of properties. The Company’s primary underwriting
criteria is a conservative loan to value ratio. The properties
securing the loans are generally classified as residential or
commercial real estate and, typically, are held for resale or
investment. Each loan is secured by a first mortgage lien on real
estate and is personally guaranteed by the principal(s) of the
borrower. The Company also makes opportunistic real estate
purchases apart from its lending activities.
Forward Looking StatementsThis
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
results of operations and financial position, strategy and plans,
and our expectations for future operations, are forward-looking
statements. Such forward-looking statements are subject to several
risks, uncertainties and assumptions as described in the Annual
Report on Form 10-K for 2023 filed with the U.S. Securities and
Exchange Commission (the “SEC”) on April 1, 2024. Because of these
risks, uncertainties and assumptions, any forward-looking events
and circumstances discussed in this press release may not occur.
You should not rely upon forward-looking statements as predictions
of future events. Neither the Company nor any other person assumes
responsibility for the accuracy and completeness of any of these
forward-looking statements. The Company disclaims any duty to
update any of these forward-looking statements. All forward-looking
statements attributable to the Company are expressly qualified in
their entirety by these cautionary statements as well as others
made in this press release. You should evaluate all forward-looking
statements made by the Company in the context of these risks and
uncertainties.
Important Additional Information and Where
to Find ItThe Company intends to file a proxy statement on
Schedule 14A, an accompanying proxy card, and other relevant
documents with the SEC in connection with its solicitation of
proxies from the Company’s shareholders for the Company’s 2024
Annual Meeting of Shareholders. THE COMPANY’S SHAREHOLDERS ARE
STRONGLY ENCOURAGED TO READ THE COMPANY’S DEFINITIVE PROXY
STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO), THE
ACCOMPANYING PROXY CARD, AND ALL OTHER DOCUMENTS FILED WITH THE SEC
CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE
THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and shareholders
may obtain a copy of the definitive proxy statement, an
accompanying proxy card, any amendments or supplements to the
definitive proxy statement and other documents filed by the Company
with the SEC at no charge at the SEC’s website at www.sec.gov.
Copies will also be available at no charge by clicking the “SEC
Filings” link in the “Investor” section of the Company’s website,
http:// sachemcapitalcorp.com, or by contacting
investors@sachemcapitalcorp.com as soon as reasonably practicable
after such materials are electronically filed with, or furnished
to, the SEC.
Participants in the
SolicitationThe Company, its directors, certain of its
officers, and other employees may be deemed to be “participants”
(as defined in Section 14(a) of the Securities Exchange Act of
1934, as amended) in the solicitation of proxies from the Company’s
shareholders in connection with matters to be considered at the
Company’s 2024 Annual Meeting of Shareholders.
Information about the names of the Company’s
directors and officers, their respective interests in the Company
by security holdings or otherwise, and their respective
compensation is set forth in the sections entitled “Election of
Directors,” “Compensation of Directors,” “Executive Compensation,”
and “Security Ownership of Certain Beneficial Owners” of the
Company’s Proxy Statement on Schedule 14A in connection with the
2023 Annual Meeting of Shareholders, filed with the SEC on August
4, 2023 (available here) and the Company’s Annual Report on Form
10-K, filed with the SEC on April 1, 2024 (available here). To the
extent the security holdings of directors and executive officers
have changed since the amounts described in these filings, such
changes are set forth on Initial Statements of Beneficial Ownership
on Form 3 or Statements of Change in Ownership on Form 4
filed with the SEC, which can be found at no charge at the SEC’s
website at www.sec.gov. Updated information regarding the identity
of potential participants and their direct or indirect interests,
by security holdings or otherwise, in the Company will be set forth
in the Company’s Proxy Statement on Schedule 14A for the 2024
Annual Meeting of Shareholders and other relevant documents to be
filed with the SEC, if and when they become available. These
documents will be available free of charge as described above.
Investor & Media Contact:
Email: investors@sachemcapitalcorp.com
Sachem Capital (AMEX:SACH)
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