Sachem Capital Corp’s (NASDAQ:SACH) quiet period is set to end on Wednesday, March 22nd. Sachem Capital Corp had issued 2,600,000 shares in its initial public offering on February 10th. The total size of the offering was $13,000,000 based on an initial share price of $5.00. During Sachem Capital Corp’s quiet period, underwriters and any insiders that worked on the IPO are restricted from issuing any research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
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Sachem Capital Corp (NASDAQ:SACH) opened at 5.27 on Tuesday. The firm has a 50 day moving average of $5.04 and a 200-day moving average of $5.04. The stock has a market cap of $44.97 million and a PE ratio of 15.55. Sachem Capital Corp has a 52-week low of $4.75 and a 52-week high of $5.29.
Sachem Capital Corp Company Profile
Sachem Capital Corp. is a real estate finance company. The Company specializes in originating, underwriting, funding, servicing and managing a portfolio of short-term loans secured by first mortgage liens on real property located primarily in Connecticut. The loan is also personally guaranteed by the principals of the borrower, which guaranty is typically collaterally secured by a pledge of the guarantor’s interest in the borrower.
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