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Slideshow IPOs

By The Online Investor Staff, updated Mon., Feb. 27, 4:16 AM

Slide #2. Sachem Capital Corp. Initial Public Offering

Company: Sachem Capital Corp.
Proposed Symbol: SACH
Shares Offered: 2,600,000
Price Per Share: $5.00
Over-Allotment: 390,000
Description: Sachem Capital Corp. (NYSE MKT:SACH) ("the Company"), a real estate finance company specializing in originating, underwriting, funding, servicing and managing a portfolio of short-term, "hard money" real estate loans, today announced the pricing of its initial public offering of 2,600,000 common shares at a price to the public of $5.00 per share. The gross proceeds to the Company from the public offering are expected to be $13,000,000 before underwriting discounts and commissions and other expenses of the offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 390,000 common shares from the Company to cover over-allotments, if any. The Company intends to use the net proceeds of the offering primarily to expand its loan portfolio, for capital improvements to its new corporate headquarters and also for working capital and general corporate purposes.

IPOs: Sachem Capital Corp.

February 27, 2017    4:16 AM Eastern

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