Sachem Capital Corp. Announces Closing of Public Offering of $14 Million of 7.75% Notes

BRANFORD, Conn.--(BUSINESS WIRE)--Sachem Capital Corp. (NYSE American: SACH) today closed on the sale of $14 million aggregate principal amount of its 7.75% unsecured, unsubordinated notes due 2025 (“Notes”). The net proceeds of the offering to Sachem Capital Corp. are expected to be approximately $13.35 million after payment of underwriting discounts and commissions and estimated offering expenses. The Notes are a further issuance of, rank equally in right of payment with and form a single series for all purposes under the indenture governing the Notes with the $14,363,750 aggregate principal amount of 7.75% Notes due 2025 that the company issued in September 2020 (collectively referred to as the “September 2025 Notes”). The Notes have been approved for listing on the NYSE American and will trade under the symbol “SCCC,” the same trading symbol for the other September 2025 Notes, starting today.