On October 1, 2024, Chicago Atlantic BDC, Inc. completed its previously announced acquisition of a loan portfolio from Chicago Atlantic Loan Portfolio, LLC (CALP). The acquired portfolio was valued at $219.6 million as of September 28, 2024.
This strategic transaction involved the issuance of 16,605,372 new shares of the Company's common stock in exchange for the portfolio. As a result, CALP and legacy Company stockholders now own approximately 72.8% and 27.2%, respectively, of the outstanding shares.
The acquisition significantly increased the Company's net assets to approximately $302 million and expanded its investment diversification. The number of portfolio companies grew from 7 to 28, enhancing LIEN's reach in its target markets.
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