Sachem Capital Corp. Announces Full Repayment and Delisting of Maturing Unsecured Unsubordinated Notes From NYSE American
24 Diciembre 2024 - 6:00AM
Sachem Capital Corp. (NYSE American: SACH) reminds
holders that its 6.875% unsecured, unsubordinated Notes due
December 30, 2024 (“Notes”), ticker symbol “SACC,” will mature on
December 30, 2024, as scheduled. The company will redeem the Notes
at par plus accrued and unpaid interest up to, but not including,
the maturity date.
Sachem expects the last trading day for the
Notes will be December 27, 2024. After the maturity date, no
Notes will remain outstanding.
Ticker |
CUSIP |
Maturity Date |
Supplemental and Prospectus Link |
SACC |
78590A 307 |
12/30/2024 |
SEC Filing |
Impact on Note Holders The
final payment with respect to the Notes, including principal and
accrued interest, will be made on or before December 30, 2024, as
described in the prospectus supplement. No action is required
by Note holders, and they will be notified directly regarding
the details of the redemption process.
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 loan 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 and the Quarterly
Report on Form 10-Q for the quarter ended September 30, 2024 filed
with the SEC on November 14, 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.
Investors:Email:
investors@sachemcapitalcorp.com
Sachem Capital (AMEX:SACH)
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