Silver Spike to acquire ~$130M loan portfolio from Chicago Atlantic; strategy broadened beyond cannabis

Chicago Atlantic BDC, Inc.

Acquiring CALP loan portfolio of 24 loans ($130M aggregate value as of Jan 1, 2024) plus potential $43M in 4 additional loans.
Consideration: newly issued SSIC common shares valued at NAV; CALP will own majority of SSIC post-close.
Pro forma net assets ~$213M; portfolio companies expand from 6 to ~27; cannabis exposure drops to ~71%.
Board also approved broadening investment strategy beyond cannabis/health & wellness, effective ~April 22, 2024.
Transaction expected to close mid-2024; separate adviser joint venture announced with Chicago Atlantic.

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