Form 424B2 Sachem Capital Corp.

Total principal amount of $56,363,750. Of these, approximately $14.4 million was issued on September 4, 2020, $14 million was issued on October 23, 2020, and $28 million was issued on December 22, 2020, bearing an annual interest rate of 7.75%. with maturity in September. It was issued on 30 October 2025 (the “2025 Notes”) and trades on the NYSE American under the symbol SCCC. The 2025 bonds are available for prepayment from 4 September 2022.


Issued on November 7, 2019, maturing on December 30, 2024, bearing interest at an annual rate of 6.875% and maturing on December 30, 2024 for an aggregate principal amount of $34,500,000 (“December 2024 Bonds”) are traded on the NYSE American under the symbol SACC.When


Issued June 25, 2019, maturing June 30, 2024, paying 7.125% interest per annum (the “June 2024 Notes”) and principally traded on the NYSE American under the symbol SCCB Total $23,663,000.


Each series of notes was published pursuant to an indenture dated June 21, 2019 and its supplements. All six series of bonds are subject to (i) “defeasance”; This is done by depositing with the trustee cash and/or government securities in an amount sufficient to pay all principal and interest (if any) on such bonds when due and deeds. and (ii) the “asset coverage ratio” requirements to which we are subject, we shall be deemed relieved of our obligations under such note and (ii) if we satisfy the additional conditions required under this Agreement. exceed 90% of taxable income; (y) incur debt; or (z) purchase shares in the Company unless they have an “asset coverage ratio” of at least 150% after making dividend payments; creation of such distributions or accrual of such obligations; “Asset Coverage” means the ratio (expressed as a percentage) of the value of the Company’s total assets to its total liabilities.

Subject to the terms of the agreement, after 30 June 2021, 7 November 2021 for the June 2024 Notes and 4 September 2022 for the December 2024 and 2025 Notes, 2026 December 20, 2023 for March 2027 Notes, March 9, 2024 for March 2027 Notes, May 11, 2024 At 100% of the outstanding principal amount for June 2027 Notes Redeem the bond in whole or in part on or before the scheduled redemption date (excluding the scheduled redemption date) at a redemption price equal to the amount plus accrued interest. After the redemption date, the redeemed bonds will no longer accrue interest.

Our secured debt includes the Churchill Facility, Wells Fargo Loans and NHB Mortgages (each discussed below).

On July 21, 2021, we closed a $200 million facility (the “Churchill Facility”) with Churchill MRA Funding I LLC (“Churchill”). Under the terms of the Churchill Facility, we have the right, but not the obligation, to sell the mortgage loans to Churchill. Churchill has the right, but not the obligation, to purchase those loans. In addition, we have the right, and in some cases the obligation, to repurchase these loans from Churchill. The amount Churchill pays for each mortgage it purchases will vary depending on the attributes of the loan and various other circumstances, but generally will not exceed 70% of the unpaid principal balance of the purchase. The repurchase price is calculated by applying a defined interest rate factor to the purchase price of the mortgage loan. We also granted Churchill a super senior security interest in the mortgages we sold to Churchill, securing our repurchase obligations. The cost of capital under the Churchill Facility is equal to the sum of (a) (i) 0.25% and (ii) 30-day LIBOR, whichever is greater, and (b) 3% – 4%, depending on the total principal amount. increase. Part of a mortgage held by Churchill at the time. Our obligations under the Churchill Facility are secured by liens on mortgage loans sold to Churchill. (After 30-day LIBOR is phased out, new benchmark rates determined by Churchill will be used instead.) subject to any conditions. (A) Exceptions to any financing arrangement, including covenants prohibiting (i) the payment or distribution of dividends exceeding 90% of taxable income, (ii) the incurrence of debt, or (iii) the purchase of shares in the Company’s equity; , unless in any case you have at least 150% asset coverage. (B) holds unsecured cash and cash equivalents in an amount equal to or greater than 2.50% of our repurchase obligation; Churchill has the right to terminate the Churchill Facilities at any time upon his 180 days’ notice to us. In this case, you must buy back all mortgages within 180 days after termination.

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