Highest-materiality recent filing
Chicago Atlantic Q2 net income $7.5M, EPS $0.34; merger with LIEN on track for Q4
Q2 2026 net income $7.47M ($0.34/share) vs $8.88M ($0.41) in Q2 2025; distributable earnings $9.29M ($0.44 basic).
REFI issues 4.3M shares for $62.5M in second-lien notes on 32 cannabis retail properties
Issued 4,306,754 shares at $14.53/share to Koach for $62.5M in second-lien notes secured by 32 retail properties leased to cannabis operators.
Chicago Atlantic Real Estate Finance to merge with Chicago Atlantic BDC in stock-for-stock deal
Each REFI share converted into Acquiror shares based on NAV ratio (Exchange Ratio); fractional shares paid in cash.
Chicago Atlantic Q1 net income $4.8M ($0.23/share) vs $10M a year ago; provision spikes
Net interest income $13.1M flat YoY; net income fell 52% to $4.8M ($0.23 diluted EPS).
Chicago Atlantic Q4 net income $8.16M ($0.38/shr); distributable earnings $0.44/shr
Net interest income Q4 $14.24M vs $13.69M Q3; net income $8.16M ($0.38/shr) vs $8.93M ($0.42) Q3.
Chicago Atlantic Q2 distributable EPS $0.51; extends credit facility to 2028
Net income $8.88M ($0.41 diluted); distributable earnings $10.85M ($0.51) vs $9.93M ($0.50) YoY.
Chicago Atlantic Q4 net income $7.9M; FY distributable earnings $40M, down 10.5% YoY
Q4 net interest income $14.1M, net income $7.9M ($0.39 diluted); distributable earnings $9.2M ($0.47 basic).
Chicago Atlantic Q3 net income $11.2M ($0.56/sh), up 22% QoQ per share; $50M unsecured note
Net income of $11.2M ($0.56 diluted EPS) vs $9.2M ($0.46) in Q2 2024, a 21.7% per-share increase.
Chicago Atlantic closes $50M unsecured term loan at 9.0%, rated BBB+ by Egan-Jones
Entered into $50M unsecured term loan maturing Oct 2028; fixed cash interest rate of 9.0% per annum.
Chicago Atlantic Q2 net income $9.2M ($0.46 EPS); distributable earnings $0.50/sh
Net interest income $13.2M; net income $9.2M ($0.46 diluted EPS); distributable earnings $9.8M ($0.50/sh).
REFI Q1 net income $8.7M ($0.47/share); distributable earnings $0.52/share; portfolio yield 19.4%
Net interest income $13.2M; net income $8.7M ($0.47 diluted EPS); distributable earnings $9.7M ($0.52).
Q4 net income $9.4M ($0.51 diluted EPS); sequential decrease of 5.8% due to higher management fees.
Chicago Atlantic Q3 distributable earnings $0.57/share, up 3.6%; originations $35.4M
Distributable earnings $0.57 per diluted share, up 3.6% sequentially; net interest income $13.7M.
Chicago Atlantic Q2 distributable earnings $0.55/share; net interest income $13.7M; NY fund $150M
Net interest income $13.7M (down 8.3% sequentially); provision for credit losses $5.2M (up $1.1M).
Chicago Atlantic Real Estate Finance enters $75M at-the-market equity offering
Entered ATM sales agreements with BTIG, Compass Point, and Oppenheimer to sell up to $75M of common stock.
REIT Q1 net income $10.7M ($0.60/dil sh), up 46% qoq; distributable earnings $11.1M ($0.62/sh)
Net interest income $14.9M, up 1% sequentially; total expenses $4.1M, down 18%.
Chicago Atlantic Q4 2022 net income $7.3M ($0.41/sh); yield to maturity 19.7%, floating rate 83%
Q4 net interest income $14.8M (+14.1% seq); net income $7.3M ($0.41/sh), down 25.7% seq.
Net income $9.8M ($0.55/diluted), up 31% sequentially from $7.5M ($0.42) in Q2 2022.
CFO Lindsay Menze resigns effective Sept 30; Phillip Silverman named Interim CFO
Lindsay Menze tendered resignation as CFO and Secretary on Sept 16, 2022, effective Sept 30, 2022.
Chicago Atlantic Q2 adjusted distributable earnings $0.50/share; dividend raised 17.5% to $0.47
Net income of $7.5M ($0.42/diluted share); adjusted distributable earnings of $8.8M ($0.50/share).
Chicago Atlantic Q1 net income $7.8M, dividend up 53.8% to $0.40
Net income $7.8M ($0.44 diluted EPS); adjusted distributable earnings $8.0M ($0.45/share).
Chicago Atlantic Q4 net income $4.4M ($0.57 EPS); dividend raised 53.8% to $0.40
Net income $4.4M in Q4, $0.57 basic EPS; Adjusted Distributable Earnings $4.6M, $0.61 per share.
REFI funds $30M senior secured loan to FarmaceuticalRX for Ohio marijuana facility
$34M aggregate loan commitment to FarmaceuticalRX; REFI funded $30M.
Chicago Atlantic REFI funds $16.1M on $100M credit facility for Michigan cannabis operator
Entered First Amendment to $100M senior secured credit facility with a vertically integrated Michigan cannabis operator.
REFI upsizes revolving credit facility to $45M, acquires $10M Verano loan from affiliate
Revolving credit facility increased from $10M to $45M with two FDIC-insured banks; matures Dec 16, 2023 with one-year extension option.
On September 16, 2022, Lindsay Menze tendered her resignation as Chief Financial Officer and Secretary of Chicago Atlantic Real Estate Finance, Inc. (the “Company”), effective as of the close of business on September 30, 2022.
In connection with Ms. Menze’s resignation, on September 20, 2022, the Company’s Board of Directors appointed Phillip Silverman, the Company’s Controller, as Interim Chief Financial Officer and Secretary of the Company, effective as of the close of business on September 30, 2022.
Max materiality 0.80 · Median 0.65 · Most common event earnings