Underwriters of Sachem Capital Corp.'s public offering of 2 million common shares fully exercised their overallotment option to purchase an additional 300,000 shares.

The exercise of the overallotment closed Aug. 13.

The public offering price was $5.00 per share. The exercise of the overallotment option resulted in gross proceeds of $1.5 million, making the total gross proceeds to the company from the offering $11.5 million.

Aegis Capital Corp. served as the sole book runner for the offering.