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:   2025-05-07T23:59:59+00:00
Accession:  0001213900-25-040396
Event type: earnings
Sentiment:  neutral
Materiality: 0.55
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

REFI Q1 net income $10.0M ($0.47 diluted); book value $14.87, dividend $0.47
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- Net income $10.0M ($0.47 diluted), up 20.5% sequentially; distributable earnings $9.7M.
- Net interest income $13.0M vs $14.1M in Q4 2024; includes $0.4M prepayment fees.
- Loan portfolio $407M principal across 30 cos; weighted avg yield 16.9% (17.2% prior).
- Book value $14.87/share (from $14.83); leverage 28%; paid $0.47 dividend on Apr 15.
- Affirmed 2025 outlook; management sees opportunity amid cannabis disruption and tariff uncertainty.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1867949/000121390025040396/0001213900-25-040396-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1867949/000121390025040396/ea0240900-8k_chicago.htm
  HTML page:      https://secwatch.observer/filing/0001213900-25-040396

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