Company: SACH
Filing Date: 2025-03-27
Form Type: 8-K
Source: 0001104659-25-028802
Chunk: 0

Company: Sachem Capital Corp.
Filing Date: 2025-03-27
Form: 8-K
Item: Item 1.01
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Item 1.01.      Entry into a Material Definitive Agreement.  

On March 20, 2025, Sachem Capital Corp. (the
“ Company”) entered into a new Credit, Security and Guaranty Agreement (the “ New Credit Agreement”),
among the Company, as the guarantor, SN Holdings, LLC, a Connecticut limited liability company and wholly owned subsidiary of the Company
(“ SN Holdings”), as the borrower, Needham Bank, a Massachusetts co-operative bank, as the administrative agent (the
“ Needham”) for the lenders party thereto (the “ Lenders”) with respect to a new $50 million revolving
credit facility (the “ New Credit Facility”). The New Credit Facility replaces and terminates the Company’s existing
$65 million revolving credit facility with Needham pursuant to the Credit and Security Agreement, dated March 2, 2023 (the “ Original
Credit Facility”). Except as described below, the New Needham Credit Facility is materially identical to the Original Credit
Facility in all material respects:

  First, the borrower under the New Credit Facility is SN Holdings, which is wholly owned by the Company and was formed for the sole    

  Second, SN Holdings, in its capacity as borrower, granted Needham a lien on all its assets. SN Holdings is required to maintain assets  

  Third, the Company, in its capacity as guarantor, agreed to grant Needham a blanket lien on all its assets. However, Needham is required  

  Fourth, the New Credit Facility is a committed facility of up $50 million, subject to borrowing base limitations and facility covenant  

  Fifth, the New Credit Facility expires March 2, 2026 but the borrower has a right to extend for an additional year provided it  
  is in compliance with all the covenants and other terms and conditions of the new credit facility.                              
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The foregoing description of the New Credit Agreement
and the terms of the New Credit Facility do not purport to be complete and are qualified in their entirety by reference to the full text
of such documents, including the exhibits thereto, copies of which are attached to this Current Report on Form 8-K as Exhibits 4.1
and 10.1, respectively, and incorporated herein by reference.