Silver Spike Investment (SSIC) has released an update.
Silver Spike Investment Corp. has signed a Purchase Agreement with Chicago Atlantic Loan Portfolio to acquire a loan portfolio in exchange for shares of common stock. This strategic move, approved by Silver Spike’s board and a special committee, involves a portfolio initially valued at $130 million, with efforts underway to expand it by $43 million before closing. The transaction is contingent on various conditions, including shareholder approval and the absence of legal challenges. Additionally, the deal includes termination rights and indemnification clauses, with significant financial implications for breach or termination. This agreement reflects Silver Spike’s forward-looking investment strategy in the financial market, pending regulatory and shareholder consensus.
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