---
schema_version: "secwatch.filing_event.v1"
accession: "0000950103-25-003523"
form_type: "8-K"
ticker: "LIEN"
cik: "0001843162"
company_name: "Chicago Atlantic BDC, Inc."
filed_at: "2025-03-18T23:59:59+00:00"
generated_at: "2026-05-24T14:30:54.960581+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Chicago Atlantic BDC replaces CEO and directors; declares $0.34 Q1 dividend

## Summary
- Andreas Bodmeier resigned as CEO; Peter Sack appointed as CEO effective March 13, 2025.
- Directors Frederick Herbst and Jason Papastavrou resigned; Supurna VedBrat and Patrick McCauley appointed as Class 1 and Class 3 directors.
- Board declared $0.34 per share cash dividend for Q1 2025; record date March 28, payment April 11.
- Q4 2024 earnings call scheduled for March 31, 2025; no financial results released yet.

## SEC filing metadata
- accession: 0000950103-25-003523
- form_type: 8-K
- ticker: LIEN
- cik: 0001843162
- company_name: Chicago Atlantic BDC, Inc.
- filed_at: 2025-03-18T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1843162/000095010325003523/0000950103-25-003523-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1843162/000095010325003523/dp226342_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950103-25-003523
- JSON: https://secwatch.observer/filing/0000950103-25-003523.json
- Plain text: https://secwatch.observer/filing/0000950103-25-003523.txt

## Key facts
- Executive change
  Patrick McCauley was appointed as Director at Chicago Atlantic BDC, Inc..
  - Action: appointed
  - Role: Director
  source text: On March 13, 2025, the Board appointed Mr. Patrick McCauley to replace Mr. Papastavrou as Class 3 Director of the Company, to serve until the Company’s annual meeting of stockholder to be held in 2027, or until his successor is duly elected and qualified.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1843162/000095010325003523/0000950103-25-003523-index.htm
- Executive change
  Frederick Herbst resigned as Director at Chicago Atlantic BDC, Inc..
  - Action: resigned
  - Role: Director
  source text: On March 13, 2025, each of Mr. Frederick Herbst and Mr. Jason Papastavrou resigned from his position as Director of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1843162/000095010325003523/0000950103-25-003523-index.htm
- Executive change
  Patrick McCauley was appointed as Class 3 Director at Chicago Atlantic BDC, Inc..
  - Action: appointed
  - Role: Class 3 Director
  source text: On March 13, 2025, the Board appointed Mr. Patrick McCauley to replace Mr. Papastavrou as Class 3 Director of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1843162/000095010325003523/0000950103-25-003523-index.htm
- Executive change
  Peter Sack was appointed as Chief Executive Officer at Chicago Atlantic BDC, Inc..
  - Action: appointed
  - Role: Chief Executive Officer
  source text: On March 13, 2025, the Board appointed Mr. Peter Sack to the position of Chief Executive Officer of the Compa
  evidence_url: https://www.sec.gov/Archives/edgar/data/1843162/000095010325003523/0000950103-25-003523-index.htm
- Executive change
  Jason Papastavrou resigned as Director at Chicago Atlantic BDC, Inc..
  - Action: resigned
  - Role: Director
  source text: On March 13, 2025, each of Mr. Frederick Herbst and Mr. Jason Papastavrou resigned from his position as Director of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1843162/000095010325003523/0000950103-25-003523-index.htm
- Executive change
  Supurna VedBrat was appointed as Director at Chicago Atlantic BDC, Inc..
  - Action: appointed
  - Role: Director
  source text: On March 13, 2025, the board of directors of the Company (the “Board”) appointed Ms. Supurna VedBrat to replace Mr. Herbst as a Class 1 Director of the Company, to serve until the Company’s annual meeting of stockholders to be held in 2025, or until her successor is duly elected and qualified.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1843162/000095010325003523/0000950103-25-003523-index.htm
- Executive change
  Supurna VedBrat was appointed as Class 1 Director at Chicago Atlantic BDC, Inc..
  - Action: appointed
  - Role: Class 1 Director
  source text: On March 13, 2025, the board of directors of the Company (the “Board”) appointed Ms. Supurna VedBrat to replace Mr. Herbst as a Class 1 Director of the Company
  evidence_url: https://www.sec.gov/Archives/edgar/data/1843162/000095010325003523/0000950103-25-003523-index.htm
- Executive change
  Andreas Bodmeier resigned as Chief Executive Officer at Chicago Atlantic BDC, Inc..
  - Action: resigned
  - Role: Chief Executive Officer
  source text: On March 13, 2025, Mr. Andreas Bodmeier resigned from his position as Chief Executive Officer of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1843162/000095010325003523/0000950103-25-003523-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.