---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-105594"
form_type: "8-K"
ticker: "REFI"
cik: "0001867949"
company_name: "Chicago Atlantic Real Estate Finance, Inc."
filed_at: "2025-11-04T23:59:59+00:00"
generated_at: "2026-05-17T00:42:53.630367+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Chicago Atlantic Q3 2025 net income $0.42/sh, down 25% YoY; portfolio grows to $400M

## Summary
- Net interest income $13.7M, down from $14.5M in Q3 2024; net income $8.9M ($0.42/sh).
- Distributable earnings $0.50/sh vs $0.57/sh YoY; regular dividend maintained at $0.47/sh.
- Total loan principal $399.9M (up 12% YoY); 86% of loans have rate floors at or above Prime.
- Affirmed 2025 outlook; liquidity ~$63M, $69.1M available on revolver extended to 2028.
- Pipeline of over $415M in new opportunities; $3.3M advanced post-quarter to existing borrowers.

## SEC filing metadata
- accession: 0001213900-25-105594
- form_type: 8-K
- ticker: REFI
- cik: 0001867949
- company_name: Chicago Atlantic Real Estate Finance, Inc.
- filed_at: 2025-11-04T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1867949/000121390025105594/0001213900-25-105594-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1867949/000121390025105594/ea0263563-8k_chicago.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-105594
- JSON: https://secwatch.observer/filing/0001213900-25-105594.json
- Plain text: https://secwatch.observer/filing/0001213900-25-105594.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.