secwatch.observer — SEC 8-K summary
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Issuer:     Chicago Atlantic BDC, Inc. (LIEN)
CIK:        0001843162
Form:       8-K
Filed at:   2024-02-23T23:59:59+00:00
Accession:  0000950103-24-002723
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SSIC to acquire $130M loan portfolio, issue 65-75% of stock to Chicago Atlantic
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- Loan portfolio comprises 24 loans valued at $130M as of Jan 1, 2024; up to $43M in additional loans may be added pre-closing.
- SSIC will issue new common stock representing 65-75% of outstanding shares to CALP in exchange for the loan portfolio.
- Transaction requires SSIC stockholder approval; parties have reciprocal termination rights with a $6,046,613 termination fee.
- Silver Spike Capital, LLC, a major SSIC stockholder, agreed under a Voting Agreement to vote all shares in favor of the transaction.
- Closing conditions include effectiveness of a registration statement and NASDAQ listing of newly issued shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1843162/000095010324002723/0000950103-24-002723-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1843162/000095010324002723/dp207225_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950103-24-002723

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