Sachem Capital (SACH) Registration Filing summary

Company overview and business model

• Operates as a self-managed REIT focused on originating, underwriting, funding, servicing, and managing a portfolio of short-term first mortgage loans secured by real estate, primarily in the northeastern and southeastern U.S.

• Business model includes three verticals: short-term commercial lending, construction and development management via Urbane Capital, and equity investment in Shem Creek Capital, a commercial real estate credit platform.

• Seeks to grow its loan portfolio while preserving capital and generating attractive risk-adjusted returns for shareholders through dividends.

• Employs a conservative loan-to-value approach and leverages additional protections such as cross-collateralization and personal guarantees.

Financial performance and metrics

• Incurred a net loss attributable to common shareholders for 2024 and cannot assure profitability for 2025.

• Aggregate market value of outstanding common shares held by non-affiliates was $52,224,345 as of May 15, 2025.

• Notes with an aggregate outstanding principal amount of $56.4 million are due in full on September 30, 2025.

• Dividend payments have been reduced in line with operational performance declines.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used for general corporate purposes and working capital, including repaying existing debt, investing in real estate opportunities, and potential acquisitions of mortgage loan portfolios or real estate finance companies.