8-K
filed November 9, 2022, 6:59 PM ET
ticker REFI
CIK 0001867949
earnings
confidence high
sentiment positive
materiality 0.75
Chicago Atlantic Q3 net income $0.55/share, raises FY2022 adjusted distributable earnings guidance to $2.01-$2.05
Chicago Atlantic Real Estate Finance, Inc.
2022-Q3 EPS reported
$1.41
revenue$34,095,006
- Net income $9.8M ($0.55/diluted), up 31% sequentially from $7.5M ($0.42) in Q2 2022.
- Adjusted distributable earnings $10.3M ($0.58/diluted), up 16% sequentially; FY2022 guidance raised to $2.01-$2.05 from $1.95-$2.00.
- Weighted average loan yield 18.3% (vs 17.7% Q2 2022); book value per share $15.23 (vs $15.13).
- Credit facility expanded to $92.5M from $65M, adding four new lenders; leverage target 25%-35% by year-end.
- Regular quarterly dividend maintained at $0.47/share; full-year dividend expected $1.81 with potential special dividend.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Chicago Atlantic Real Estate Finance, Inc. reported the third quarter ended September 30, 2022 results: net income Net Income of approximately $9.8 million, or $0.55 per weighted average diluted common share. Guidance raised.
- Period
- the third quarter ended September 30, 2022
- Net income
- Net Income of approximately $9.8 million, or $0.55 per weighted average diluted common share
- Guidance
- raised
- Result
- reported results
Exact text from the filing
Chicago Atlantic Real Estate Finance Announces Third Quarter 2022 Financial Results
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Chicago Atlantic Real Estate Finance, Inc. amended Third Amended and Restated Loan and Security Agreement with various financial institutions party thereto, as lenders valued at from $65 million to $92.5 million (effective 2022-11-07).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- various financial institutions party thereto, as lenders
- Value
- from $65 million to $92.5 million
- Effective
- 2022-11-07
Exact text from the filing
On November 7, 2022, Chicago Atlantic Lincoln, LLC (“CAL”), a Delaware limited liability company and a wholly-owned financing subsidiary of Chicago Atlantic Real Estate Finance, Inc. (the “Company”), entered into a Third Amended and Restated Loan and Security Agreement (the “Third Amended and Restated LSA”) by and among CAL and other borrowers from time to time party thereto, as the borrower (the “Borrowers”), and the various financial institutions party thereto, as lenders (the “Lenders”) related to a secured revolving credit facility (the “Revolving Loan”).
View on SEC.gov
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