Sachem Capital Corp. Announces Successful Note Redemption
In an important announcement from Sachem Capital Corp., it has been confirmed that their 7.75% unsecured, unsubordinated Notes, designated with the ticker symbol "SCCC," will reach maturity at the end of this month. This decision comes as part of the company's strategy to manage its financial obligations efficiently.
Details of the Redemption Process
The company plans to redeem the outstanding Notes at their par value plus any accrued interest until the maturity date. Investors holding these notes should anticipate that the final payment will be reflected in their accounts by the end of this month.
Last Trading Day
For those engaged in trading these Notes, it is essential to note that the final trading opportunity will be the day prior to redemption. Therefore, investors should prepare for the cessation of trading by the end of this month as no Notes will remain after that date.
Summary of Note Characteristics
The following attributes define the maturing Notes:
- Ticker: SCCC
- CUSIP: 78590A406
- Maturity Date: End of this month
As these Notes mature, Sachem Capital Corp. aims to ensure all holders are informed and understand the redemption process. Note holders are not required to take any action and will receive direct notifications.
Who is Sachem Capital Corp.?
Sachem Capital Corp. operates as a mortgage real estate investment trust (REIT), specializing in issuing, managing, and providing funding for a diverse portfolio of loans secured by first mortgages on real properties. The Company primarily focuses on short-term loans, generally lasting three years or less. These loans are designed to support real estate investors in various endeavors—including the acquisition, renovation, and development of investment properties.
Loan Characteristics
With a commitment to conservative lending, Sachem employs a careful approach to evaluate the loan-to-value ratios of its offerings. The properties associated with its loans usually fall under the categories of residential or commercial real estate and are intended for investment purposes. Furthermore, every loan is secured with a first mortgage and personally guaranteed by the borrower’s principal.
Growth Strategy and Future Prospects
Beyond its lending framework, Sachem Capital Corp. is also known for seizing opportunistic real estate acquisition opportunities. This proactive strategy positions the company to diversify its investment portfolio while enhancing its potential for growth.
Contact Information for Investors
For inquiries or detailed information, investors may contact Sachem Capital’s Investor Relations team via email.
Email: investors@sachemcapitalcorp.com
Frequently Asked Questions
What is Sachem Capital Corp. known for?
Sachem Capital Corp. operates as a mortgage REIT focusing on short-term loans secured by mortgages on real property.
When will the SCCC Notes mature?
The SCCC Notes are set to mature by the end of this month.
How will the redemption process work for note holders?
The final payment will automatically occur without any required action from note holders.
What can investors expect after the maturity of the Notes?
After maturity, no Notes will remain outstanding, and the last trading day will be the day before redemption.
Where can interested parties find more information?
Additional information can be obtained by contacting the Investor Relations team or visiting the company's website.
