Sachem Capital reminds Note holders of the upcoming maturity and redemption of its 6.875% Notes on December 30, 2024.
Quiver AI Summary
Sachem Capital Corp. has announced that its 6.875% unsecured Notes, maturing on December 30, 2024, will be redeemed at par plus accrued interest, with the last trading day for these Notes set for December 27, 2024. Note holders will not need to take any action, as they will be directly informed about the redemption process. The company, which focuses on financing real estate investments through secured loans, operates as a mortgage REIT and emphasizes a conservative loan-to-value ratio in its lending practices. Additionally, the press release notes that it includes forward-looking statements that may be subject to risks and uncertainties, and it advises investors to consider these factors when evaluating such statements.
Potential Positives
- Sachem Capital Corp. is implementing the scheduled redemption of its 6.875% unsecured Notes, signaling a commitment to fulfilling its financial obligations.
- The redemption at par plus accrued interest ensures that investors will receive their full investment value, reinforcing trust in the company's financial practices.
- The notification to note holders that no action is required on their part simplifies the redemption process and enhances shareholder communication.
- As a mortgage REIT, the company's core business of managing a portfolio of loans secured by real estate positions it favorably in the real estate investment market.
Potential Negatives
- The company is notifying investors of the impending maturity and redemption of its Notes, which may suggest liquidity concerns or a need to communicate to investors about the completion of financing obligations.
- The final trading day for the Notes prior to maturity creates uncertainty for investors who may seek to liquidate their holdings, indicating potential limited market liquidity for these securities.
- The cautionary language surrounding forward-looking statements may indicate a lack of confidence in future performance or a significant level of uncertainty regarding the company's operational outlook.
FAQ
What is the maturity date of Sachem Capital Corp's Notes?
The maturity date for Sachem Capital Corp's 6.875% Notes is December 30, 2024.
How will the Notes be redeemed?
The Notes will be redeemed at par plus accrued and unpaid interest up to the maturity date.
When is the last trading day for the Notes?
The last trading day for the Notes is scheduled for December 27, 2024.
Do Note holders need to take any action for the redemption?
No action is required from Note holders; they will receive direct notifications regarding the redemption process.
What type of company is Sachem Capital Corp?
Sachem Capital Corp. is a mortgage REIT specializing in loans secured by real property for real estate investors.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SACH Insider Trading Activity
$SACH insiders have traded $SACH stock on the open market 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $SACH stock by insiders over the last 6 months:
- JOHN L. VILLANO (Chairman, CEO and President) purchased 124,660 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$SACH Hedge Fund Activity
We have seen 28 institutional investors add shares of $SACH stock to their portfolio, and 59 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- MELIA WEALTH LLC added 749,348 shares (+29.0%) to their portfolio in Q3 2024
- GOLDMAN SACHS GROUP INC removed 284,670 shares (-100.0%) from their portfolio in Q2 2024
- LAURION CAPITAL MANAGEMENT LP removed 151,065 shares (-100.0%) from their portfolio in Q2 2024
- SUSQUEHANNA INTERNATIONAL GROUP, LLP added 147,816 shares (+inf%) to their portfolio in Q3 2024
- HRT FINANCIAL LP removed 118,166 shares (-100.0%) from their portfolio in Q2 2024
- JANE STREET GROUP, LLC removed 116,146 shares (-100.0%) from their portfolio in Q3 2024
- CUBIST SYSTEMATIC STRATEGIES, LLC removed 102,014 shares (-100.0%) from their portfolio in Q2 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
BRANFORD, Conn., Dec. 24, 2024 (GLOBE NEWSWIRE) -- Sachem Capital Corp. (NYSE American: SACH) reminds holders that its 6.875% unsecured, unsubordinated Notes due December 30, 2024 (“Notes”), ticker symbol “SACC,” will mature on December 30, 2024, as scheduled. The company will redeem the Notes at par plus accrued and unpaid interest up to, but not including, the maturity date.
Sachem expects the last trading day for the Notes will be December 27, 2024. After the maturity date, no Notes will remain outstanding.
Ticker | CUSIP | Maturity Date | Supplemental and Prospectus Link |
SACC | 78590A 307 | 12/30/2024 | SEC Filing |
Impact on Note Holders
The final payment with respect to the Notes, including principal and accrued interest, will be made on or before December 30, 2024, as described in the prospectus supplement. No action is required by Note holders, and they will be notified directly regarding the details of the redemption process.
About Sachem Capital Corp.
Sachem Capital Corp. is a mortgage REIT that specializes in originating, underwriting, funding, servicing, and managing a portfolio of loans secured by first mortgages on real property. It offers short-term (i.e., three years or less) secured, nonbanking loan to real estate investors to fund their acquisition, renovation, development, rehabilitation, or improvement of properties. The Company’s primary underwriting criteria is a conservative loan to value ratio. The properties securing the loans are generally classified as residential or commercial real estate and, typically, are 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. The Company also makes opportunistic real estate purchases apart from its lending activities.
Forward Looking Statements
This press release may contain forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, strategy and plans, and our expectations for future operations, are forward-looking statements. Such forward-looking statements are subject to several risks, uncertainties and assumptions as described in the Annual Report on Form 10-K for 2023 filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 1, 2024 and the Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 filed with the SEC on November 14, 2024. Because of these risks, uncertainties and assumptions, any forward-looking events and circumstances discussed in this press release may not occur. You should not rely upon forward-looking statements as predictions of future events. Neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company disclaims any duty to update any of these forward-looking statements. All forward-looking statements attributable to the Company are expressly qualified in their entirety by these cautionary statements as well as others made in this press release. You should evaluate all forward-looking statements made by the Company in the context of these risks and uncertainties.
Investors:
Email: investors@sachemcapitalcorp.com
This article was originally published on Quiver News, read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
