An update from Chicago Atlantic BDC ( (LIEN) ) is now available.
On February 11, 2025, Chicago Atlantic BDC, Inc. entered into a $100 million senior secured revolving credit agreement, providing substantial liquidity and flexibility for future portfolio growth. The agreement, secured by a first-priority interest in the company’s assets, matures in March 2028 and is designed to support the company’s strategic goals amidst robust lending opportunities. Additionally, the board approved clarifications to an expense limitation agreement, excluding costs related to the credit facility from the expense cap. Furthermore, a significant management change occurred on February 14, 2025, with Martin Rodgers appointed as the new Chief Financial Officer, succeeding Umesh Mahajan, who resigned to focus on his role as Co-Chief Investment Officer.
More about Chicago Atlantic BDC
Chicago Atlantic BDC, Inc. is a specialty finance company regulated as a business development company, focusing primarily on the U.S. cannabis industry. It targets direct loans to privately held middle-market companies and seeks opportunities in niche or esoteric sectors typically underserved by traditional capital sources, aiming for idiosyncratic credit opportunities with attractive risk-adjusted returns.
YTD Price Performance: -2.64%
Average Trading Volume: 7,090
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $279.1M
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