Sachem Capital files for a $18 million IPO

Sachem Capital, a REIT focused on short-term loans secured by property in Connecticut, filed on Friday with the SEC to raise up to $18 million in an initial public offering.

The Branford, CT-based company was founded in 2010 and booked $4 million in sales for the 12 months ended June 30, 2016. It plans to list on the Nasdaq under the symbol SACH. Joseph Gunnar & Co. is the sole bookrunner on the deal. No pricing terms were disclosed.  renaissance capital

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