Exhibit 99.2


Sachem Capital Corp.
6.875% Notes Due 2024

  

Final Pricing Term Sheet
October 31, 2019

 

Issuer

Sachem Capital Corp.

 

Title of the Securities:

6.875% Notes due 2024 (the “Notes”)

 

Private Rating: Egan-Jones Ratings Company: BBB+
Initial Aggregate Principal Amount Being Offered: $30,000,000
Option to Purchase Additional Notes Up to an additional $4,500,000 aggregate principal amount of Notes within 30 days
Underwriting Discount:

$0.875 per Note; $1,050,000 (assuming the over-allotment option is not exercised)

 

Net Proceeds to the Issuer, before Expenses: $24.125 per Note; $28,950,000 total (assuming the over-allotment option is not exercised)
Initial Public Offering Price:

100% of aggregate principal amount

 

Denominations:

Issue the Notes in denominations of $25.00 and integral multiples of $25.00 in excess thereof

 

Principal at Time of Payment:

100% of the aggregate principal amount; the principal amount of each Note will be payable on its stated maturity date.

 

Type of Note:

Fixed rate note

 

Coupon Rate:

6.875% per annum

 

Day Count:

30/360

 

Original Issue Date:

November 7, 2019

 

Stated Maturity Date:

December 30, 2024

 

Date Interest Starts Accruing:

 

 November 7, 2019

 

 

 

 

Interest Payment Date:

Every March 30, June 30, September 30 and December 30, commencing December 30, 2019. If an interest payment date falls on a non-business day, the applicable interest payment will be made on the next business day and no additional interest will accrue as a result of such delayed payment.

 

Interest Periods:

The initial interest period will be the period from and including November 7, 2019, to, but excluding, the initial interest payment date, and the subsequent interest periods will be the periods from and including an interest payment date to, but excluding, the next interest payment date or the stated maturity date, as the case may be.

 

Regular Record Dates for Interest:

 

 March 15, June 15, September 15 and December 15, commencing December 15, 2019
Optional Redemption:

The Notes may be redeemed in whole or in part at any time or from time to time at Issuer’s option on or after November 7, 2021 upon not less than 30 days nor more than 60 days written notice by mail prior to the date fixed for redemption thereof, at a redemption price of 100% of the outstanding principal amount of the Notes to be redeemed plus accrued and unpaid interest payments otherwise payable thereon for the then-current quarterly interest period accrued to the date fixed for redemption.

 

Repayment at Option of Holders:

 

 Holders will not have the option to have the Notes repaid prior to the stated maturity date
Listing:

Issuer intends to list the Notes on the NYSE American, within 30 days of the original issue date under the trading symbol “SACC.”

 

CUSIP / ISIN:

78590A307 / US78590A3077

 

Joint Book-Running Managers:

 

 Ladenburg Thalmann & Co. Inc.
Janney Montgomery Scott LLC
Lead Manager: National Securities Corporation

 

 

The issuer has filed a registration statement (including a prospectus and related prospectus supplement) with the U.S. Securities and Exchange Commission (SEC) for this offering.