secwatch.observer — SEC 8-K summary
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Issuer:     Sachem Capital Corp. (SACH)
CIK:        0001682220
Form:       8-K
Filed at:   2023-03-03T23:59:59+00:00
Accession:  0001104659-23-028523
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sachem Capital enters $45M revolving credit facility with Needham Bank, refinances mortgage
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- Entered $45M revolving credit facility with Needham Bank, expandable to $75M, secured by substantially all assets.
- Credit facility matures March 2, 2026, with one-year extension option; interest at prime minus 0.25% (floor 4.50%).
- Refinanced $1.4M mortgage into $1.66M loan from New Haven Bank at 5.75% initial rate, maturing March 1, 2038.
- New mortgage is non-recourse, secured by properties at 698 Main St and 568 East Main St, Branford, CT.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1682220/000110465923028523/0001104659-23-028523-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1682220/000110465923028523/tm238526d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-028523

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