Small specialty mREIT Sachem Capital (SACH) has re-opened their 7.75% notes due 2025.
The notes trade under ticker SCCC and can be seen here.
Originally the company had sold just 520,000 notes for gross proceeds of $13 million. The re-opening amount is yet to be determined.
The preliminary offering prospectus supplement can be seen here.
Hello
I bought SCCC October 10-October 15. I’ve been out since early December with illness. According to my info, SCCC was supposed to go X-div on 12/12 and pay on 12/15. However, no div has arrived in my account. Wrong info? What is the correct XD and PD for SCC. Many thanks for all that you do.
Jeff
Hey Jeff. I like the note myself and own it, but I dont like your source, as he/she/or it is wrong. We dont get paid until the end of the month.
The Notes will mature on September 30, 2025. The principal payable at maturity will be 100% of the aggregate outstanding principal amount. The interest rate of the Notes is 7.75% per year and will be paid every March 30, June 30, September 30, and December 30, beginning December 30, 2020, and the regular record dates for interest payments will be every March 15, June 15, September 15, and December 15, beginning December 15, 2020. If an interest payment date falls on a non-business day, the applicable interest payment will be made on the next business day and no additional interest will accrue as a result of such delayed payment. The initial interest period will be the period from and including September 4, 2020, to, but excluding December 30, 2020