Category: Uncategorized

My apologies for the website being down for 30-40 minutes earlier this morning. Thus far I am not certain of the issue beyond something with the server puking.

In 15 years I have never posted something ‘just because’ it was funny–but for someone as old as me to damn near fall off my chair after watching a you tube video of a court hearing–it must be pretty good or I am just plain warped.

Hard money lender, and REIT, Sachem Capital (SACH) has announced they are ‘re-opening” the currently outstanding 7.75% baby bond issue (SCCC).

No offering price, no number of shares to be sold has been announced although I expect the offering price to be $24.75 to $25/share.

This issue was originally sold on 8/26/2020. This issue was small–just 520,000 plus over allotment. The issue was reopened 10/20/2020 and another 520,000 shares were sold. The issue had been trading at $25.07/share today–the issue had just gone ex-dividend for about 48 cents a few days ago.

NOTE–this offering was announced late in the day and no negative reaction was logged this trading day in the pricing of the outstanding shares–but normally we will see a setback in prices with more shares being sold. aview made note of the offering on the Reader Initiated Alerts page today at 3:25pm.

The offering prospectus can be found here.

I will be out of the office some in the next couple of days so will be slow to get new issue information posted. Reader initiated alerts will have them very quickly as is typical.

This week I removed a comment from the comment stream. The way this works is if I ‘unapprove’ a comment it removes the comment and all of the responses to that initial comment. So if you notice some comment you made ‘missing’ it may have been in the comment stream.

The initial comment had an personal ‘attack’ (in my mind) and was really uncalled for–if someone makes a factual error it is ok to correct the error–but not berate the individual.

I don’t ban folks for going ‘off the rails’ a time or two–I am NOT overly strict. There remains only 1 person ‘banned’ from a couple years ago–he/she was persistently attacking folks and refused to stop.