other material
confidence high
sentiment neutral
materiality 0.40
REFI amends 8-K to provide Verano Holdings audited FY2020 financials; revenue $228.5M, net income $124.7M
Chicago Atlantic Real Estate Finance, Inc.
- Verano revenue grew to $228.5M in 2020 from $65.9M in 2019; net income of $124.7M vs $18.4M loss.
- Total assets $459.3M at Dec 31, 2020, up from $194.1M; cash $16.4M vs $6.4M.
- Gross profit $255.7M in 2020, driven by $254.2M unrealized fair value gain on biological assets.
- REFI acquired $10M loan principal in Verano from an affiliate on Dec 15, 2021 (original report).