Sachem Capital Corp. Files 8-K on Debt Maturities and Stock
Ticker: SCCG · Form: 8-K · Filed: Jun 3, 2024 · CIK: 1682220
| Field | Detail |
|---|---|
| Company | Sachem Capital Corp. (SCCG) |
| Form Type | 8-K |
| Filed Date | Jun 3, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $25.00, $0.484375 |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt, notes, stock, filing
TL;DR
Sachem Capital Corp. 8-K details upcoming debt maturities and stock status.
AI Summary
On June 3, 2024, Sachem Capital Corp. filed an 8-K report. The filing primarily concerns the company's financial instruments, specifically various series of notes with different maturity dates and interest rates, including 7.125% notes due 2024, 6.875% notes due 2024, 7.75% notes due 2025, 6.00% notes due 2026, 6.00% notes due 2027, 7.125% notes due 2027, and 8.00% notes due 2027. It also mentions common stock and Series A preferred stock.
Why It Matters
This filing provides investors with an update on Sachem Capital Corp.'s outstanding debt obligations and equity structure, which are crucial for assessing the company's financial health and risk profile.
Risk Assessment
Risk Level: medium — The filing details various debt instruments, indicating potential refinancing needs or repayment obligations that could impact the company's financial stability.
Key Numbers
- 2024 — Note Maturities (Indicates upcoming debt obligations for 7.125% and 6.875% notes.)
- 2025 — Note Maturities (Indicates upcoming debt obligations for 7.75% notes.)
- 2026 — Note Maturities (Indicates upcoming debt obligations for 6.00% notes.)
- 2027 — Note Maturities (Indicates upcoming debt obligations for multiple note series (6.00%, 7.125%, 8.00%).)
Key Players & Entities
- Sachem Capital Corp. (company) — Filer of the 8-K report
- June 3, 2024 (date) — Date of the report
- 7.125% notes due 2024 (dollar_amount) — Specific debt instrument mentioned
- 6.875% notes due 2024 (dollar_amount) — Specific debt instrument mentioned
- 7.75% notes due 2025 (dollar_amount) — Specific debt instrument mentioned
- 6.00% notes due 2026 (dollar_amount) — Specific debt instrument mentioned
- 6.00% notes due 2027 (dollar_amount) — Specific debt instrument mentioned
- 7.125% notes due 2027 (dollar_amount) — Specific debt instrument mentioned
- 8.00% notes due 2027 (dollar_amount) — Specific debt instrument mentioned
- Common Stock (company) — Equity mentioned in the filing
FAQ
What is the total principal amount of the 7.125% notes due 2024?
The filing does not specify the total principal amount for the 7.125% notes due 2024.
Are there any new debt issuances mentioned in this filing?
This filing does not mention any new debt issuances; it focuses on existing debt instruments and stock.
What is the interest rate on the Series A preferred stock?
The filing mentions Series A preferred stock but does not specify its interest rate.
What is the purpose of this 8-K filing?
This 8-K filing is a current report detailing various financial instruments, including different series of notes and stock, as of June 3, 2024.
Does the filing provide details on the company's real estate portfolio?
No, this filing is focused on financial instruments and does not provide details on the company's real estate portfolio.
Filing Stats: 509 words · 2 min read · ~2 pages · Grade level 9.6 · Accepted 2024-06-03 17:06:20
Key Financial Figures
- $25.00 — Preferred Stock, Liquidation Preference $25.00 per share SACHPRA NYSE American LLC
- $0.484375 — and the Company declared a dividend of $0.484375 per share on the Company's 7.75% Series
Filing Documents
- tm2416295d1_8k.htm (8-K) — 43KB
- 0001104659-24-067849.txt ( ) — 298KB
- sach-20240603.xsd (EX-101.SCH) — 5KB
- sach-20240603_def.xml (EX-101.DEF) — 29KB
- sach-20240603_lab.xml (EX-101.LAB) — 42KB
- sach-20240603_pre.xml (EX-101.PRE) — 28KB
- tm2416295d1_8k_htm.xml (XML) — 12KB
01. Other Events
Item 8.01. Other Events. On June 3, 2024, the board of directors of Sachem Capital Corp. (the "Company") authorized and the Company declared a dividend of $0.484375 per share on the Company's 7.75% Series A Cumulative Redeemable Preferred Stock ("Series A Preferred") payable on or about June 30, 2024 to Series A Preferred shareholders of record on June 15, 2024. The payment represents the full amount of the dividend accruing from March 30, 2024 through and including June 29, 2024. * * * * * 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Sachem Capital Corp. Dated: June 3, 2024 By: /s/ John L. Villano, CPA John L. Villano, CPA Chief Executive Officer 3