SACH - Sachem Capital prices notes offering

Sachem Capital (NYSE:SACH) has priced its offering of $27.5M of aggregate principal amount of unsecured, unsubordinated notes maturing on June 30, 2027. Interest on the notes will accrue at the annual rate of 7.125% and will be payable quarterly, in arrears. The notes may be redeemed, in whole or in part,  at the company’s option on or after May 11, 2024. Underwriters have been granted a 30-day over-allotment option to purchase up to an additional $4.125M of the notes. Net proceeds from the offering are expected to be ~$26.3M. The issuance will close on May 11, 2022. The notes are expected to be listed on the NYSE American under the trading symbol "SCCF" and begin trading around May 12, 2022.

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Sachem Capital prices notes offering