Sachem Capital Corp. 8-K: Debt and Equity Details
Ticker: SCCG · Form: 8-K · Filed: Dec 2, 2024 · CIK: 1682220
| Field | Detail |
|---|---|
| Company | Sachem Capital Corp. (SCCG) |
| Form Type | 8-K |
| Filed Date | Dec 2, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $25.00, $0.484375 |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt, equity, filing
TL;DR
Sachem Capital Corp. 8-K details various notes due 2024-2027 and preferred stock.
AI Summary
Sachem Capital Corp. filed an 8-K on December 2, 2024, to report other events. The filing details various debt instruments, including 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 multiple debt issuances with varying maturity dates, indicating a complex capital structure that could pose financial risks.
Key Numbers
- 2024 — Note Maturity Year (Indicates upcoming debt obligation)
- 2025 — Note Maturity Year (Indicates upcoming debt obligation)
- 2026 — Note Maturity Year (Indicates upcoming debt obligation)
- 2027 — Note Maturity Year (Indicates multiple upcoming debt obligations)
Key Players & Entities
- Sachem Capital Corp. (company) — Registrant
- 6.875% notes due 2024 (dollar_amount) — Debt Instrument
- 7.75% notes due 2025 (dollar_amount) — Debt Instrument
- 6.00% notes due 2026 (dollar_amount) — Debt Instrument
- 6.00% notes due 2027 (dollar_amount) — Debt Instrument
- 7.125% notes due 2027 (dollar_amount) — Debt Instrument
- 8.00% notes due 2027 (dollar_amount) — Debt Instrument
- Common Stock (dollar_amount) — Equity
- Series A Preferred Stock (dollar_amount) — Equity
FAQ
What is the total principal amount of each series of notes outstanding?
The filing does not specify the total principal amount for each series of notes.
Are there any covenants associated with these debt issuances?
The filing does not detail specific covenants for the notes.
What is the purpose of this 8-K filing?
This 8-K filing is to report 'Other Events' related to the company's debt and equity.
When were these debt instruments issued?
The filing does not provide the issuance dates for the notes.
What is the interest rate for each series of notes?
The filing lists notes with interest rates of 6.875%, 7.75%, 6.00% (twice), 7.125%, and 8.00%.
Filing Stats: 500 words · 2 min read · ~2 pages · Grade level 10.1 · Accepted 2024-12-02 16:12:55
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
- tm2429906d1_8k.htm (8-K) — 41KB
- 0001104659-24-124581.txt ( ) — 287KB
- sach-20241202.xsd (EX-101.SCH) — 4KB
- sach-20241202_def.xml (EX-101.DEF) — 29KB
- sach-20241202_lab.xml (EX-101.LAB) — 39KB
- sach-20241202_pre.xml (EX-101.PRE) — 27KB
- tm2429906d1_8k_htm.xml (XML) — 11KB
01. Other Events
Item 8.01. Other Events. On December 2, 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 December 30, 2024 to Series A Preferred shareholders of record on December 15, 2024. The payment represents the full amount of the dividend accruing from September 30, 2024 through and including December 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: December 2, 2024 By: /s/ John L. Villano John L. Villano, CPA Chief Executive Officer 3