Company: SACH
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001682220-25-000070
Chunk: 12

Company: Sachem Capital Corp.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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$75,089 $(95,204)$230,076 Issuance of Series A Preferred Stock, net of expenses249,901— —— 5,157 — — — 5,157 Issuance of common shares, net of expenses—— 568,7111 2,049 — — — 2,050 Stock buyback—— (535,369)(1)(1,372)— — — (1,373)Stock-based compensation—— 212,524— 650 — — — 650 Reversal of losses from unrealized to realized—— —— — (65)— — (65)Unrealized holding losses on AFS securities—— —— — (251)— — (251)Dividends paid on Series A Preferred Stock—— —— — — — (3,187)(3,187)Dividends Paid on common shares—— —— — — — (9,014)(9,014)Net income—— —— — — (3,436)— (3,436)Balance, September 30, 20242,279,824$2 47,011,349$47 $256,310 $— $71,653 $(107,405)$220,607 

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)Nine Months EndedSeptember 30,20252024CASH FLOWS FROM OPERATING ACTIVITIESNet income (loss)$3,788 $(3,436)Adjustments to reconcile net income (loss) to net cash provided by operating activities:Amortization of deferred financing costs1,653 1,860 Depreciation and amortization expense368 281 Stock-based compensation645 650 Provision for credit losses related to loans held for investment2,788 17,964 Change in valuation allowance related to loans held for sale(1,014)— Impairment loss on real estate owned185 397 Loss (gain) on