Company: SACH
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001682220-25-000044
Chunk: 84

Company: Sachem Capital Corp.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 84
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46.4 million increase in senior secured notes payable net of deferred financing costs of $3.6 million, offset by repayments of repurchase agreements of $19.2 million and lines of credit of $13.7 million.

Total shareholders’ equity at June 30, 2025 was $177.9 million compared to $181.7 million at December 31, 2024, a decrease of $3.7 million, or 2.1%. This decrease was due primarily to an aggregate of $7.0 million of dividends paid to holders of Series A Preferred Stock and common shares, which was partially offset by $2.8 million of cumulative net earnings for the six month period and $0.4 million increase in additional paid-in capital related to stock-based compensation.

Sources and Uses of Funds

Our primary sources of cash include principal and interest payments on mortgage loans and various fees associated with such loans, proceeds from the sales of real property, net proceeds from offerings of equity securities, and borrowings from our credit facilities. Our primary uses of cash include debt service payments (both principal and interest), new originations of loans held for investment, new investments in real estate, dividend distributions to our shareholders, and operating expenses.

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These sources and uses of cash are reflected in our Condensed Consolidated Statements of Cash Flows as summarized below:

Six Months EndedOne Year-ChangeAmount20252024AmountPercentage(in thousands)(in thousands)Cash and cash equivalents, January 1$18,066 $12,598 $5,468 43.4 %Net cash provided by operating activities692 11,179 (10,487)(93.8)%Net cash (used in) provided by investing activities(2,658)27,534 (30,192)(109.7)%Net cash provided by (used in) financing activities6,374 (40,734)47,108 (115.6)%Cash and cash equivalents, June 30$22,474 $10,577 $11,897 112.5 %

For a detailed breakdown of our cash flows during the six months ended June 30, 2025 and 2024, see our Condensed Consolidated Statement of Cash Flows.

We project anticipated cash requirements for our operating needs as well as cash flows generated from operating activities available to meet these needs. Our short-term cash requirements primarily include funding of loans, dividend payments, interest and principal payments on our indebtedness