Sachem

Sachem Capital Reports Second Quarter 2023 Results – Produces Record Revenue Growth of 31.2% to $16.5 Million

Retrieved on: 
Monday, August 14, 2023

BRANFORD, Conn., Aug. 14, 2023 (GLOBE NEWSWIRE) -- Sachem Capital Corp. (NYSE American: SACH) announced its financial results for the quarter ended June 30, 2023.

Key Points: 
  • BRANFORD, Conn., Aug. 14, 2023 (GLOBE NEWSWIRE) -- Sachem Capital Corp. (NYSE American: SACH) announced its financial results for the quarter ended June 30, 2023.
  • For the second quarter 2023, interest income was approximately $11.9 million compared to approximately $10.4 million for the 2022 period.
  • Total operating costs and expenses for the quarter ended June 30, 2023 were approximately $10.8 million, compared to $7.3 million for 2022 period.
  • Total shareholders’ equity at June 30, 2023 rose $11.3 million to approximately $229.0 million compared to $217.7 million at December 31, 2022.

Sachem Capital Corp. Announces New Credit Facility

Retrieved on: 
Thursday, March 2, 2023

Mr. John Warch, Sachem Capital’s Chief Financial Officer, stated, “Given our growing pipeline of opportunities we are pleased to close on this attractive financing as it significantly enhances Sachem's financial flexibility and liquidity.

Key Points: 
  • Mr. John Warch, Sachem Capital’s Chief Financial Officer, stated, “Given our growing pipeline of opportunities we are pleased to close on this attractive financing as it significantly enhances Sachem's financial flexibility and liquidity.
  • This additional line of credit provides the financial capacity to further scale our business and execute on our growth strategy.
  • The intended purpose of this line of credit is to support the Company’s working capital needs, general corporate purposes and to fund new mortgage loan originations.
  • The capacity of the revolving credit facility can be increased to $75 million with an accordion expansion feature, which is subject to obtaining participating lender commitments.

Sachem Capital Corp. Expands Capabilities with Acquisition of Urbane New Haven LLC, a Premier Real Estate Development and Construction Firm

Retrieved on: 
Monday, October 10, 2022

Headquartered in New Haven, Connecticut with 11 employees, Urbane has successfully developed and overseen hundreds of real estate projects in multiple markets across the country for over 21 years.

Key Points: 
  • Headquartered in New Haven, Connecticut with 11 employees, Urbane has successfully developed and overseen hundreds of real estate projects in multiple markets across the country for over 21 years.
  • Mr. OBriens primary responsibilities include construction management oversight and real estate development.
  • Having Urbane in-house provides Sachem with go-to construction expertise, which should enable us to take on larger and more profitable construction loans, as well as further vertically integrate our lending platform.
  • We have been working with Urbane for over a year now, helping us manage complex real estate development and construction projects from Connecticut to Florida for which Sachem has provided financing.

Elanco Announces Changes to its Board of Directors

Retrieved on: 
Thursday, September 8, 2022

As one of the Companys largest shareholders, Sachem Head will continue to engage with and be a resource for the Board and management team.

Key Points: 
  • As one of the Companys largest shareholders, Sachem Head will continue to engage with and be a resource for the Board and management team.
  • Ferguson said, I am resigning from the Board of Directors to spend additional time on other opportunities in Sachem Heads portfolio and my service on two other public company boards.
  • As the Company executes on its plan, I believe the market will come to appreciate the good work that is being done by management and the Board.
  • The Board and I appreciate Scotts strong partnership and contributions during his tenure as we executed our plans for sustainable growth and enhanced profitability, said R. David Hoover, chairman of Elancos Board of Directors.

Sachem Capital Corp. Announces Closing of Public Offering of $35.0 Million of 8.00% Notes

Retrieved on: 
Tuesday, August 23, 2022

BRANFORD, Conn., Aug. 23, 2022 (GLOBE NEWSWIRE) -- Sachem Capital Corp. (NYSE American: SACH) announces the closing of its previously announced registered public offering of $35.0 million aggregate principal amount of 8.00% unsecured, unsubordinated notes due 2027 (Notes).

Key Points: 
  • BRANFORD, Conn., Aug. 23, 2022 (GLOBE NEWSWIRE) -- Sachem Capital Corp. (NYSE American: SACH) announces the closing of its previously announced registered public offering of $35.0 million aggregate principal amount of 8.00% unsecured, unsubordinated notes due 2027 (Notes).
  • The net proceeds of the offering are estimated to be approximately $33.7 million after payment of underwriting discounts and commissions and estimated offering expenses payable by the company.
  • Sachem has granted the underwriters a 30-day option to purchase up to an additional $5.25 million aggregate principal amount of Notes to cover over-allotments, if any.
  • The Notes will rank pari passu with all the companys unsecured, unsubordinated indebtedness, whether currently outstanding or issued in the future.

Sachem Capital Corp. Announces Appointment of John E. Warch, CPA, as Chief Financial Officer

Retrieved on: 
Wednesday, July 27, 2022

BRANFORD, Conn., July 27, 2022 (GLOBE NEWSWIRE) -- Sachem Capital Corp. (NYSE American: SACH) announced today the appointment of John E. Warch, CPA, as the Companys new Executive Vice President and Chief Financial Officer, effective August 1, 2022.

Key Points: 
  • BRANFORD, Conn., July 27, 2022 (GLOBE NEWSWIRE) -- Sachem Capital Corp. (NYSE American: SACH) announced today the appointment of John E. Warch, CPA, as the Companys new Executive Vice President and Chief Financial Officer, effective August 1, 2022.
  • John Villano, CPA, who previously served as both Chief Executive Officer and Chief Financial Officer, will continue to serve as the Companys Chief Executive Officer.
  • Mr. Warch also served as Senior Vice President and Chief Accounting Officer at CapLease, Inc., a publicly held REIT, where his responsibilities included financial and SEC reporting, compliance, management reporting, and accounting oversight.
  • John Villano, CPA, Chief Executive Officer of Sachem Capital Corp., stated, We are delighted to welcome John to the senior leadership team at Sachem, which comes at an ideal time given our rapid growth.

Sachem Capital Corp. Announces Closing of Public Offering of $27.5 Million of 7.125% Notes

Retrieved on: 
Wednesday, May 11, 2022

BRANFORD, Conn., May 11, 2022 (GLOBE NEWSWIRE) -- Sachem Capital Corp. (NYSE American: SACH) announces the closing of its previously announced registered public offering of $27.5 million aggregate principal amount of 7.125% unsecured, unsubordinated notes due 2027 (Notes).

Key Points: 
  • BRANFORD, Conn., May 11, 2022 (GLOBE NEWSWIRE) -- Sachem Capital Corp. (NYSE American: SACH) announces the closing of its previously announced registered public offering of $27.5 million aggregate principal amount of 7.125% unsecured, unsubordinated notes due 2027 (Notes).
  • The net proceeds of the offering are estimated to be approximately $26.3 million after payment of underwriting discounts and commissions and estimated offering expenses payable by the company.
  • Sachem has granted the underwriters a 30-day option to purchase up to an additional $4.125 million aggregate principal amount of Notes to cover over-allotments, if any.
  • The Notes will rank pari passu with all the companys unsecured, unsubordinated indebtedness, whether currently outstanding or issued in the future.

US Foods Sends Letter to Shareholders

Retrieved on: 
Tuesday, May 3, 2022

The US Foods Board of Directors unanimously recommends that shareholders vote FOR ALL of US Foods highly qualified and engaged directors on the WHITE proxy card today.

Key Points: 
  • The US Foods Board of Directors unanimously recommends that shareholders vote FOR ALL of US Foods highly qualified and engaged directors on the WHITE proxy card today.
  • This will be true for US Foods Holding Corp. (US Foods or the Company) at our May 18, 2022 Annual Meeting.
  • Sachem Head wants you to believe that US Foods cherry-picked the October 6, 2021 date to suit our interests.
  • Your Board is focused on substantially enhancing value for shareholders, and we believe US Foods is executing the right plan to do that.

US Foods Files Investor Presentation Highlighting Track Record of Profitable Growth, Clear Plan to Create Shareholder Value and Highly Qualified and Refreshed Board

Retrieved on: 
Wednesday, April 27, 2022

Highlights of the presentation include:

Key Points: 
  • Highlights of the presentation include:
    US Foods has a track record of profitable growth and is executing on its strategy to drive its balanced long-range plan.
  • US Foods has a compelling plan to drive profitable growth and increase shareholder value.
  • US Foods Board consists of highly qualified directors who are best suited to lead the Company through the successful execution of its strategy.
  • The Board is active, engaged and capable of leading change, with a strong track record of shareholder engagement.

US Foods Sends Letter to Shareholders

Retrieved on: 
Monday, April 18, 2022

US Foods Holding Corp. (NYSE: USFD) (US Foods or the Company), one of the largest foodservice distributors in the United States, today sent a letter to shareholders in connection with its May 18, 2022 Annual Meeting of Shareholders (the 2022 Annual Meeting).

Key Points: 
  • US Foods Holding Corp. (NYSE: USFD) (US Foods or the Company), one of the largest foodservice distributors in the United States, today sent a letter to shareholders in connection with its May 18, 2022 Annual Meeting of Shareholders (the 2022 Annual Meeting).
  • View the full release here: https://www.businesswire.com/news/home/20220417005036/en/
    Total Shareholder Return - US Foods vs. Key Peers and S&P 500 (Graphic: Business Wire)
    Highlights from the letter include:
    US Foods has a track record of driving profitable growth.
  • US Foods Board will continue to act as its own agent of change for the benefit of all of the Companys shareholders.
  • The full text of the letter being sent to shareholders follows:
    Dear Fellow US Foods Shareholder,
    Your vote at US Foods upcoming 2022 Annual Meeting of Shareholders is critical, as Sachem Head Capital Management LP (Sachem Head) is conducting an unnecessary proxy contest in an attempt to remove members of your Board of Directors (the Board).