Sachem Capital Corp’s (SACH) Quiet Period Set To Expire Tomorrow
Sachem Capital Corp’s (NASDAQ:SACH) quiet period is set to expire on Wednesday, March 22nd. Sachem Capital Corp had issued 2,600,000 shares in its 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 the company’s quiet period, insiders and any underwriters 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, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
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Sachem Capital Corp (NASDAQ:SACH) opened at 5.27 on Tuesday. The company has a 50-day moving average of $5.04 and a 200 day moving average of $5.04. Sachem Capital Corp has a 12 month low of $4.75 and a 12 month high of $5.29. The company has a market cap of $44.97 million and a PE ratio of 15.55.
About Sachem Capital Corp
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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