Sachem Capital Corp. Announces Sale of an Additional $3 Million of 7.75% Notes Due 2025 From Exercise of Over-Allotment Option

BRANFORD, Conn.--(BUSINESS WIRE)--Sachem Capital Corp. (NYSE American: SACH) has sold an additional $3 million original principal amount of its 7.75% unsecured unsubordinated notes due 2025 pursuant to the exercise of the underwriters’ over-allotment option, bringing the total original principal amount of notes sold in the offering to $28 million (the “Notes”). The Notes were sold at a 1% discount resulting in total gross proceeds of $27.72 million and net proceeds, after paying underwriting discounts and commissions but before other transaction expenses, of $26.82 million to the company from the offering.