secwatch.observer — SEC 8-K summary
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Issuer:     Chicago Atlantic BDC, Inc. (LIEN)
CIK:        0001843162
Form:       8-K
Filed at:   2026-06-18T11:01:45+00:00
Accession:  0001213900-26-069853
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Chicago Atlantic BDC (LIEN) to acquire Chicago Atlantic Real Estate Finance (REFI) in stock-for-stock merger
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- LIEN and REFI sign merger agreement; REFI to merge into LIEN with LIEN surviving.
- Each REFI share converted into LIEN shares based on Exchange Ratio = REFI NAV per share / LIEN NAV per share.
- REFI will elect to be a BDC before closing; merger intended as tax-free reorganization.
- Stockholder votes required from both companies; support agreements cover ~4.8% of REFI and ~12.9% of LIEN shares.
- LIEN board to consider up to $25M share repurchase program post-closing; termination date June 30, 2027.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1843162/000121390026069853/0001213900-26-069853-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1843162/000121390026069853/ea0295159-8k425_chicago.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-069853

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