Sachem Capital Corp. to Sell $25 Million of 7.75% Notes Due 2025

BRANFORD, Conn.--(BUSINESS WIRE)--Sachem Capital Corp. (NYSE American: SACH) announces the pricing of a registered public offering of $25 million aggregate principal amount of its 7.75% unsecured, unsubordinated notes due 2025 (“Notes”). The gross proceeds of the offering are expected to be $24.75 million and the net proceeds, after payment of underwriting discounts and commissions, are expected to be approximately $23.95 million. The Notes will be 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 approximately $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”).