IPO for Sachem Capital

$5.00 (Est. Date 02/10/2017)

Connecticut-based real estate finance company that specializes in originating, underwriting, funding, servicing and managing a portfolio of short-term (i.e., three years or less) loans secured by first mortgage liens on real property located primarily in Connecticut. Each loan is also personally guaranteed by the principal(s) of the borrower, which guaranty is typically collaterally secured by a pledge of the guarantor’s interest in the borrower. Sachem’s typical borrower is a small real estate investor who will use the proceeds to fund its acquisition, renovation, rehabilitation, development and/or improvement of residential or commercial properties located primarily in Connecticut held for investment or sale. The property may or may not be income producing. Sachem does not lend to owner-occupants. Sachem’s loans are referred to in the real estate finance industry as “hard money loans.”

Sachem believes that upon completion of this offering it will meet all of the requirements to qualify as a real estate investment trust (“REIT”) for federal income tax purposes and intends to elect to be taxed as a REIT beginning with the year in which this offering is consummated.

Sachem’s current expectation is that it will pay quarterly dividends on its common shares at an annualized rate of approximately 8.0% based upon the $5.00 offering price, or approximately $0.40 per share per annum. However, Sachem expects to pay only a pro rata dividend for the period following the consummation of this offering through March 31, 2017.

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This information has been gathered from the company's offering prospectus.

IPO Documentation

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Key IPO Data

SACH
NYSE
$17,250,000
2,600,000
Joseph Gunnar & Co.
This information has been gathered from the company's offering prospectus.

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A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to notice of its acceptance given after the effective date.