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Sachem Capital Corp. (SACH) is a United States-based real estate investment trust (REIT). The company has been financing opportunistic real estate transactions in the New England area since 2010. Specializing in originating, underwriting, funding, servicing, and managing a portfolio of short-term loans, Sachem provides quick, short-term bridge capital for real estate investors, builders, or developers who need immediate funding or solutions to immediate problems.
Sachem Capital's primary objective is to grow its loan portfolio while protecting and preserving capital. The company focuses on offering creative real estate financing solutions developed exclusively for those seeking alternatives to conventional bank loans. Their hands-on managers have extensive experience in real estate acquisitions, investments, management, and development, allowing them to quickly assess complex opportunities and deliver efficient and opportunistic closing products to borrowers while ensuring profitability for shareholders.
The executive team boasts extensive experience in real estate, and this expertise enables the company to address the constant volatility and instability in today's financial markets. Since being listed on the NYSE on February 10, 2017, Sachem Capital has continued to thrive, providing attractive risk-adjusted returns to shareholders over the long term through dividends.
The majority of the company's revenue is generated from interest income from loans secured by first mortgage liens on real property located in Connecticut. These properties, typically residential or commercial, are often held for resale or investment. Each loan is secured by a first mortgage lien on real estate and is personally guaranteed by the principal(s) of the borrower. Apart from lending activities, Sachem Capital also engages in opportunistic real estate purchases.
Sachem Capital Corp. (NYSE American: SACH) has announced a public offering of $45 million in 6.0% unsecured notes due 2026. The net proceeds are estimated at approximately $43.3 million. The offering is expected to close on December 20, 2021, with an option for underwriters to purchase an additional $6.75 million in notes. The notes will have a BBB+ rating from Egan-Jones and will mature on December 30, 2026, with interest payable quarterly starting March 30, 2022. The company specializes in first mortgage loans for real estate investors in Connecticut.
Sachem Capital Corp. (NYSE American: SACH) has announced a public offering of unsecured, unsubordinated notes due in five years. The Notes will rank pari passu with the company's existing unsecured debts and are expected to be listed under the symbol 'SCCD'. The offering will be priced with an interest rate determined at that time. The securities carry a private rating of BBB+ from Egan-Jones Ratings. The offering is being managed by a group of financial institutions including Ladenburg Thalmann & Co. Inc. and Janney Montgomery Scott LLC.
Sachem Capital Corp. (NYSE American: SACH) announced that Bill Haydon, Chief Investment Officer, will participate in the Benzinga All Access event on December 16, 2021, at 9:40 A.M. Eastern Time. The interview, hosted by Spencer Israel of Benzinga TV, will be broadcast live. Viewers can access the event here. An archived recording will later be available on Sachem's investor relations site.
Sachem Capital Corp. (NYSE American: SACH) has reconvened its 2021 Annual Meeting of Shareholders to discuss Proposal 2, now rescheduled for November 24, 2021, at 10:00 a.m. EST. This proposal seeks to amend the company’s certificate to increase authorized capital shares, requiring over 50% shareholder approval. The meeting was adjourned to provide more time for shareholders who have not yet voted, with the voting deadline set for 11:59 PM EST on November 23, 2021. Additionally, the amendment for preferred shares has been modified from 10 million to 7.5 million shares.
Sachem Capital Corp. (SACH) reported a remarkable 100% revenue growth in Q3 2021, totaling approximately $8.5 million, compared to $4.3 million in Q3 2020. The net income for the third quarter was $3.4 million, or $0.12 per share. For the nine months ended September 30, 2021, total revenue was approximately $20.9 million, a 62.5% increase year-over-year. The company is bolstered by a strong loan pipeline, a healthy balance sheet, and plans for further geographic expansion. A conference call is scheduled for November 5, 2021, to discuss these results.
Sachem Capital Corp. (NYSE American: SACH) announced that Bill Haydon, Chief Investment Officer, will present at the Dawson James Securities Small Cap Growth Conference on October 21, 2021, at 9:20 AM ET. The conference will be held at the Wyndham Grand Hotel in Jupiter, Florida. Mr. Haydon will also conduct one-on-one meetings with qualified investors during the event. Interested parties can access the live webcast and archived recordings through Sachem's investor relations page.
Sachem Capital Corp. (SACH) has declared a quarterly dividend of $0.12 per share, payable on October 29, 2021, to shareholders on record by the close of trading on October 25, 2021. CEO John Villano highlighted the company's ongoing growth and stability within its loan portfolio, emphasizing a strategic diversification into larger loans and geographic expansion. The company continues to experience strong market demand for its loan products and robust cash flow, fostering a positive outlook for the remainder of 2021.
Sachem Capital Corp. (SACH) announced the adjournment of its Annual Meeting of Shareholders, originally held on October 13, 2021, concerning Proposal 2 to increase authorized capital. The meeting will resume virtually on November 3, 2021, at 10:00 a.m. EDT. The company seeks to secure shareholder approval for Proposal 2, requiring more than 50% of outstanding shares. Shareholders are encouraged to vote by November 2, 2021, at 11:59 PM EDT. Proposals 1, 3, and 4 regarding directors, auditor appointments, and executive compensation received approval during the initial meeting.
Sachem Capital Corp. (NYSE American: SACH) will present at the Fall Harvest - Best Ideas from the Buy-Side conference from October 5-8, 2021. The company's Chief Investment Officer, Bill Haydon, is set to speak on October 5 at 5:00 PM ET. Attendees can view the presentation live online and schedule one-on-one meetings with management during the event. This conference features top investment ideas from qualified institutional investors, highlighting Sachem's strength in short-term, secured loans for real estate investors.
BRANFORD, Conn., Sept. 08, 2021 - Sachem Capital Corp. (NYSE American: SACH) announces that Bill Haydon, its CIO, will present at the H.C. Wainwright 23rd Annual Global Investment Conference, held virtually from September 13-15, 2021. The presentation will be available on-demand starting September 13 at 7:00 AM ET. Additionally, management will engage in one-on-one meetings with investors during the conference. Sachem specializes in short-term, secured nonbanking loans for real estate investments and operates as a REIT for tax purposes since 2017.
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