Company: SACH
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001682220-25-000044
Chunk: 12

Company: Sachem Capital Corp.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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$249,826 $316 $75,089 $(95,204)$230,076 Issuance of Series A Preferred Stock, net of expenses176,205— —— 3,616 — — — 3,616 Issuance of Common Shares, net of expenses—— 568,7111 2,049 — — — 2,050 Stock-based compensation—— 212,857— 437 — — — 437 Reversal of losses from unrealized to realized—— —— — (65)— — (65)Unrealized holding losses on AFS securities—— —— — (251)— — (251)Dividends paid on Series A Preferred Stock—— —— — — — (2,091)(2,091)Dividends Paid on Common Shares—— —— — — — (5,219)(5,219)Net income—— —— — — 1,615 — 1,615 Balance, June 30, 20242,206,128$2 47,547,051$48 $255,928 $— $76,704 $(102,514)$230,168 

The accompanying notes, together with the Notes to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, are an integral part of these financial statements.

5

SACHEM CAPITAL CORP.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)

(dollars in thousands)Six Months EndedJune 30,20252024CASH FLOWS FROM OPERATING ACTIVITIESNet income$2,791 $1,615 Adjustments to reconcile net income to net cash provided by operating activities:Amortization of deferred financing costs1,101 1,275 Depreciation and amortization expense234 189 Stock-based compensation428 437 Provision for credit losses related to loans held for investment1,977 9,868 Change in valuation allowance related to loans held for sale(1,047)— Impairment loss on real estate owned— 77 Gain on sale of real estate owned and property and equipment, net(131)(264)Gain on equity securities(696)(458)Change in