Brief: Sachem Capital And Industrial Realty Group Announce Strategic Combination To Create IRG Realty Trust
18/05/2026 11:15
May 18 (Reuters) - Sachem Capital Corp SACH.A: SACHEM CAPITAL CORP. AND INDUSTRIAL REALTY GROUP ANNOUNCE STRATEGIC COMBINATION TO CREATE IRG REALTY TRUST, A TOP-10 PUBLIC INDUSTRIAL REIT SACHEM CAPITAL CORP - COMBINED ENTERPRISE VALUE ABOUT $3.4 BILLION AS OF MARCH 31, 2026 SACHEM CAPITAL CORP - DEAL VALUES SACHEM COMMON SHARES AT $2.00 PER SHARE, 90% PREMIUM TO 30-DAY VWAP SACHEM CAPITAL CORP - UPON DEAL CLOSE, IRGT TO OWN 98 INDUSTRIAL PROPERTIES WITH $2.9 BILLION GROSS ASSET VALUE PLUS $470 MILLION SACHEM ASSETS SACHEM CAPITAL CORP - STUART LICHTER TO SERVE AS CHAIRMAN OF IRGT BOARD; JOHN VILLANO TO REMAIN ON BOARD SACHEM CAPITAL CORP - IRGT TO EXECUTE 20-TO-1 REVERSE STOCK SPLIT; POST-SPLIT REFERENCE PRICE $40.00 PER SHARE SACHEM CAPITAL: ANTICIPATED THAT SCOTIABANK WILL WORK TO ARRANGE A NEW CREDIT FACILITY FOR IRGT SACHEM CAPITAL CORP: EXISTING SACHEM COMMON SHAREHOLDERS RETAINING OWNERSHIP OF 5.9% ON FULLY DILUTED BASIS Source text: ID:nGNX74zb5x Further company coverage: SACH.A ((Reuters.Briefs@thomsonreuters.com;))
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