Sachem Capital to be acquired by IRG Global in $2.9B deal, existing holders diluted to 5.9%

Filed May 18, 2026 · Period ending May 17, 2026 · ~2 min read

Key Changes

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  IRG Global acquiring Sachem's industrial real estate portfolio for $2.9B gross ($1.5B net of debt), giving IRG 94.1% economic ownership and 51% voting control through dual-class share structure. Existing shareholders diluted to ~5.9% ownership.

  Item 1.01: Entry into Material Agreement verify on EDGAR →
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  Before closing (expected end-2026), Sachem will execute 20-to-1 reverse stock split, redomicile to Delaware, rename to IRG Realty Trust, and restructure into UPREIT format with new operating partnership.

  Item 1.01: Pre-Closing Reorganization verify on EDGAR →
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  IRG Global receives Class B shares with no economic rights but 51% voting power as long as they hold 51%+ of OP Units. IRG will control 4 of 7 board seats post-closing, with Stuart Lichter as Chairman.

  Item 1.01: Governance Changes verify on EDGAR →