secwatch.observer — SEC 8-K summary
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Issuer:     Chicago Atlantic Real Estate Finance, Inc. (REFI)
CIK:        0001867949
Form:       8-K/A
Filed at:   2022-03-31T23:59:59+00:00
Accession:  0001213900-22-016955
Event type: other_material
Sentiment:  neutral
Materiality: 0.20
Item codes: 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Chicago Atlantic REFI provides audited FY2020 financials of its Michigan cannabis borrower
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- Borrower's audited FY2020: revenue $22.97M, net income $7.19M, total assets $59.16M.
- Borrower is a vertically-integrated Michigan cannabis operator; federal illegality risk noted in audit report.
- Amendment to Jan 2022 8-K reporting loan funding; financials were previously unavailable.
- Borrower's FY2020 gross profit $17.02M, operating income $7.23M, interest expense $3.99M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1867949/000121390022016955/0001213900-22-016955-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1867949/000121390022016955/ea157690-8ka1_chicago.htm
  HTML page:      https://secwatch.observer/filing/0001213900-22-016955

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer