Sachem Capital Corp. Announces Closing of Public Offering of $25 Million of 7.75% Notes

BRANFORD, Conn.--(BUSINESS WIRE)--Sachem Capital Corp. (NYSE American: SACH) today closed on the sale of $25 million aggregate principal amount of its 7.75% unsecured, unsubordinated notes due 2025 (“Notes”). The gross proceeds of the offering to Sachem Capital Corp. are $24.75 million and the net proceeds, after payment of underwriting discounts and commissions, are approximately $23.95 million. 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 $28.36 million aggregate principal amount of 7.75% Notes due 2025 that the company issued in September 2020 and October 2020 (collectively referred to as the “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 2025 Notes, starting today.