Sachem Capital Consummates Private Placement Of $100M Aggregate Principal Amount Of 5-Yr Senior Secured Notes Due June 11, 2030

Sachem Capital Corp. (NYSE:SACH) (the "Company"), a real estate lender specializing in originating, underwriting, funding, servicing, and managing a portfolio of loans secured by first mortgages on real property, today announced that Sachem Capital Corporation Holdings, LLC, an indirect, wholly-owned subsidiary of the Company, consummated a private placement of $100 million aggregate principal amount of five-year Senior Secured Notes due June 11, 2030 (the "Notes") to various institutional investors. An initial draw of $50 million was made at closing, and the remaining $50 million must be drawn by May 15, 2026. The Notes bear interest at a fixed rate of 9.875% per annum, with interest only payable quarterly and a commitment fee of 1.0% on the undrawn portion of the Notes. Payment of the amounts due on the Notes is fully and unconditionally guaranteed by the Company and Sachem Capital Corporation Intermediate, LLC, a wholly-owned subsidiary of the Company. The Notes have received an investment grade rating of A from Egan-Jones Ratings Company, an independent, unaffiliated rating agency.

The Company intends to use the proceeds for a combination of purposes, including the repayment of existing facility balances, the origination of new investments, and to redeem its 7.75% unsecured notes maturing in September 2025.