Chicago Atlantic BDC, Inc. reported strong earnings, increased dividends, closed credit facility, positive outlook.

From GlobeNewswire: 2025-03-31 07:00:00

Chicago Atlantic BDC, Inc. (NASDAQ: LIEN) reported total investment income of $12.7 million and net investment income of $8.0 million for the fourth quarter of 2024. The company’s investment portfolio was valued at $275.2 million, with a net asset value per share of $13.20 on December 31, 2024. LIEN declared a dividend of $0.34 per share for both the fourth quarter of 2024 and the first quarter of 2025. Additionally, the company closed a $100 million senior secured revolving credit facility on February 12, 2025.

CEO Peter Sack highlighted the company’s achievements post the Loan Portfolio Acquisition, including a 36% increase in quarterly dividends and the closing of the credit facility. LIEN funded $45.6 million in investments since October 1, 2024, focusing on creating a scaled portfolio in senior secured investments and leveraging expertise in underserved lending markets.

In connection with the Loan Portfolio Acquisition on October 1, 2024, LIEN issued 16,605,372 shares to CALP for a portfolio valued at $219.6 million. The Loan Portfolio Acquisition led to a change in the company’s name to Chicago Atlantic BDC, Inc. and ticker symbol to “LIEN.” As of December 31, 2024, there were 22,820,367 shares outstanding.

LIEN closed a new $100 million senior secured revolving credit facility on February 12, 2025, which matures in March 2028 and bears interest at SOFR plus 3.00%. The company’s investment portfolio had an aggregate fair value of $275.2 million across 28 portfolio companies as of December 31, 2024.

For the fiscal year ended December 31, 2024, LIEN reported total investment income of $21.7 million and net investment income of $9.5 million. The company’s net asset value per share decreased to $13.20 on December 31, 2024, primarily due to dividend payments and expenses related to the Loan Portfolio Acquisition.

LIEN will host a conference call on March 31, 2025, to discuss its financial results for the fourth quarter and full year of 2024. The call will be open to the general public, and a replay will be available on the company’s website. LIEN posted its Fourth Quarter and Full Year 2024 Earnings Presentation on its website for investors to access.



Read more at GlobeNewswire:: Chicago Atlantic BDC, Inc. Reports Fourth Quarter and Full