secwatch.observer — SEC 8-K summary
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Issuer:     Chicago Atlantic Real Estate Finance, Inc. (REFI)
CIK:        0001867949
Form:       8-K
Filed at:   2024-03-12T23:59:59+00:00
Accession:  0001213900-24-021571
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Chicago Atlantic Q4 net income $0.51 EPS, down 5.8% seq; FY distributable earnings up 7.6%; promotes Co-CEO and CFO
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- Q4 net income $9.4M ($0.51 diluted EPS); sequential decrease of 5.8% due to higher management fees.
- FY2023 net interest income $57.1M (+17% YoY); distributable earnings $41.5M ($2.26/share), up 7.6% YoY.
- Total 2023 dividends $2.17/share (regular $1.88 + special $0.29), up 3.3% YoY; 2024 payout ratio 90-100%.
- Credit facility amended: maturity extended to June 2026, accordion up to $150M. Net liquidity ~$10M as of Mar 11.
- Peter Sack promoted to Co-CEO, Phil Silverman to CFO effective March 7, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1867949/000121390024021571/0001213900-24-021571-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1867949/000121390024021571/ea0201450-8k_chicago.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-021571

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