8-K filed October 7, 2024, 7:59 PM ET ticker LIEN CIK 0001843162

M&A confidence high sentiment neutral materiality 0.85

Chicago Atlantic BDC, Inc. (LIEN): M&A transaction — Chicago Atlantic BDC completes $219.6M loan portfolio acquisition; CEO replaced, officers appointed

Chicago Atlantic BDC, Inc.

Acquired CALP loan portfolio valued at $219.6M in exchange for 16.6M new shares; net assets now ~$300M.
Combined loan portfolio gross weighted-average YTM ~19%; investments in 28 portfolio companies.
Andreas Bodmeier appointed CEO; Scott Gordon becomes Executive Chairman and Co-CIO. Dino Colonna named President.
New investment advisory agreement with same fees; expense cap of 2.15% of net assets through Sep 2025.
CALP owns ~72.8% of outstanding shares; control of registrant changed.

item 1.01 item 1.02 item 2.01 item 5.01 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Umesh Mahajan

Co-Chief Investment Officer, Chief Financial Officer and Secretary

LIEN · Chicago Atlantic BDC, Inc.

Effective: 2024-10-01
Filed: October 7, 2024, 7:59 PM ET

Umesh Mahajan has become Co-Chief Investment Officer of the Company in addition to remaining Chief Financial Officer and Secretary of the Company

Role change

Scott Gordon

Executive Chairman and Co-Chief Investment Officer

LIEN · Chicago Atlantic BDC, Inc.

Effective: 2024-10-01
Filed: October 7, 2024, 7:59 PM ET

Mr. Gordon has become Executive Chairman of the Board and Co-Chief Investment Officer of the Company

Appointed

Andreas Bodmeier

Chief Executive Officer

LIEN · Chicago Atlantic BDC, Inc.

Effective: 2024-10-01
Filed: October 7, 2024, 7:59 PM ET

Andreas Bodmeier has replaced Scott Gordon as Chief Executive Officer of the Company

Appointed

Dino Colonna

President

LIEN · Chicago Atlantic BDC, Inc.

Effective: 2024-10-01
Filed: October 7, 2024, 7:59 PM ET

Dino Colonna has become President of the Company

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Umesh Mahajan changed role as Co-Chief Investment Officer, Chief Financial Officer and Secretary at Chicago Atlantic BDC, Inc..

Action: became
Role: Co-Chief Investment Officer, Chief Financial Officer and Secretary

Exact text from the filing

Umesh Mahajan has become Co-Chief Investment Officer of the Company in addition to remaining Chief Financial Officer and Secretary of the Company

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Scott Gordon changed role as Executive Chairman and Co-Chief Investment Officer at Chicago Atlantic BDC, Inc..

Action: became
Role: Executive Chairman and Co-Chief Investment Officer

Exact text from the filing

Mr. Gordon has become Executive Chairman of the Board and Co-Chief Investment Officer of the Company

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Andreas Bodmeier was appointed as Chief Executive Officer at Chicago Atlantic BDC, Inc..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

Andreas Bodmeier has replaced Scott Gordon as Chief Executive Officer of the Company

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Dino Colonna was appointed as President at Chicago Atlantic BDC, Inc..

Action: appointed
Role: President

Exact text from the filing

Dino Colonna has become President of the Company

View on SEC.gov

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Chicago Atlantic BDC, Inc. completed an acquisition involving Chicago Atlantic Loan Portfolio, LLC (CALP) for 16,605,372 shares of its common stock to CALP in exchange for the CALP Loan Portfolio, which was determined by the Company to have a fair value of $219,621,125 (closed 2024-10-01).

Action: acquisition
Counterparty: Chicago Atlantic Loan Portfolio, LLC (CALP)
Consideration: 16,605,372 shares of its common stock to CALP in exchange for the CALP Loan Portfolio, which was determined by the Company to have a fair value of $219,621,125
Closing: 2024-10-01

Exact text from the filing

Acquisition Agreement”). In accordance with the terms of the Loan Portfolio Acquisition Agreement, at the effective time of the Loan Portfolio Acquisition, the Company issued 16,605,372 shares of its common stock to CALP in exchange for the CALP Loan Portfolio, which was determined by the Company to have a fair value of $219,621,125 as of September 28, 2024.

View on SEC.gov

31 m&a transactions filed in the last 30 days. Browse all m&a transactions →

Chicago Atlantic BDC, Inc. filing history →

Source: SEC EDGAR

accession 0000950103-24-014651

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