SACH - Sachem Capital commences registered public offering of notes

Sachem Capital (NYSE:SACH) commenced a registered public offering of unsecured, unsubordinated notes due 5 years from the date of issue. The notes will rank pari passu with all SACH's unsecured, unsubordinated indebtedness, whether currently outstanding or issued in the future. SACH will pay interest on the notes on Mar. 30, Jun. 30, Sept. 30 and Dec. 30 of each year they are outstanding, as per an SEC filing. The notes are expected to be listed on the NYSE American under the trading symbol “SCCE” and to trade thereon within 30 days of the original issue date. The interest rate and other terms of the notes will be determined at the time of the pricing of the offering. At Sept. 30, the aggregate principal amount of SACH's outstanding unsubordinated unsecured indebtedness was $114.5M. In Dec., SACH issued an additional $51.75M aggregate principal amount of unsecured subordinated indebtedness. As of Mar. 3,

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Sachem Capital commences registered public offering of notes