SEC Form 3 · accession 0001144204-17-009275
Sachem Capital Corp. · SACH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John L. Villano
Officer — Chairman,co-CEO,CFO& Secretary · Director · 10% Owner
Period of report
Feb 9, 2017
Accepted (ET)
Feb 15, 2017 · 12:55 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001682220
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Shares, $.001 par value per share | holding | — | — | — | 1,085,000 | D | ||
| Common Shares, $.001 par value per shareF1,F2 | holding | — | — | — | 315,757 | I | By Sachem Capital Partners, LLC |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On February 8, 2017, Sachem Capital Partners, LLC ("SCP") acquired 6,283,237 common shares (the "SCP Shares") of the issuer in an "Exchange" transaction as described in the Issuer's final prospectus dated February 9, 2017 (the "Prospectus"). JJV, LLC("JJV") is the manager of SCP and the reporting person is a managing member of JJV. All 6,283,237 common shares are expected to be distributed pro rata to the members of SCP in full liquidation of their membership interests in SCP, as soon as practicable after the consummation of the initial public offering contemplated by the Prospectus.
- F2Upon distribution of the SCP Shares, the reporting person will receive 68,223 common shares in exchange for his membership interest in SCP; the reporting person's spouse will receive 6,815 common shares; and JJV will receive 240,719 common shares (the "JJV Shares"). The reporting person disclaims beneficial ownership of the JJV Shares except to the extent of his pecuniary interest therein. The reporting person disclaims beneficial ownership of the remaining SCP Shares.