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Micro-cap mortgage REIT Sachem Capital prices downsized $13 million IPO at $5

February 9, 2017
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Sachem Capital, a mortgage REIT focused on short-term loans secured by property in Connecticut, raised $13 million by offering 2.6 million shares at $5, it originally planned to offer 3.0 million shares at $5. Sachem Capital plans to list on the NYSE MKT under the symbol SACH. Joseph Gunnar & Co. acted as a lead manager on the deal.