Sachem Capital Corp. Announces Withdrawal of Public Debt Offering

Company Overview - Sachem Capital Corp. is a mortgage REIT that focuses on originating, underwriting, funding, servicing, and managing a portfolio of loans secured by first mortgages on real property [2] - The company provides short-term secured, nonbanking loans to real estate investors for property acquisition, renovation, development, rehabilitation, or improvement [2] - The primary underwriting criterion is a conservative loan-to-value ratio, with loans secured by first mortgage liens on residential or commercial real estate [2] Recent Developments - Sachem Capital Corp. has announced the withdrawal of its previously planned debt offering, which was intended to be USD-denominated unsecured, unsubordinated notes due in five years [5] - The decision to withdraw the offering was based on the conclusion that current market conditions regarding pricing were excessive and restrictive, not aligning with the company's long-term interests [5] - CEO John Villano emphasized that the company has ample liquidity through existing credit facilities and a liquid mortgage portfolio, allowing it to continue business operations as per past practices [3]