Chicago Atlantic BDC, Inc. Reports Second Quarter 2025 Financial Results
Chicago Atlantic BDC (NASDAQ: LIEN) reported strong Q2 2025 financial results, with total gross investment income of $13.1 million and net investment income of $7.7 million ($0.34 per share). The company's investment portfolio reached $307.5 million across 31 portfolio companies, with a NAV per share of $13.23 as of June 30, 2025.
During Q2, LIEN funded nine portfolio companies with $39.1 million in aggregate par value and subsequently funded an additional $17.2 million across five borrowers. The company maintains strong liquidity with $108.8 million available as of Q2 end. The Board declared a dividend of $0.34 per share for Q3 2025, payable on October 10, 2025.
Chicago Atlantic BDC (NASDAQ: LIEN) ha comunicato solidi risultati finanziari per il 2° trimestre 2025, con ricavi lordi totali da investimenti pari a 13,1 milioni di dollari e reddito netto da investimenti di 7,7 milioni di dollari (0,34 $ per azione). Il portafoglio investimenti della società ha raggiunto 307,5 milioni di dollari distribuiti su 31 società in portafoglio, con un valore patrimoniale netto per azione (NAV) di 13,23 $ al 30 giugno 2025.
Nel 2° trimestre LIEN ha finanziato nove società del portafoglio per un valore nominale aggregato di 39,1 milioni di dollari e successivamente ha erogato un ulteriore 17,2 milioni di dollari a cinque prenditori. La società mantiene una solida liquidità con 108,8 milioni di dollari disponibili alla chiusura del trimestre. Il Consiglio ha dichiarato un dividendo di 0,34 $ per azione per il 3° trimestre 2025, pagabile il 10 ottobre 2025.
Chicago Atlantic BDC (NASDAQ: LIEN) informó sólidos resultados financieros en el segundo trimestre de 2025, con ingresos brutos totales por inversiones de 13,1 millones de dólares y ingresos netos por inversiones de 7,7 millones de dólares (0,34 $ por acción). La cartera de inversiones de la compañía alcanzó 307,5 millones de dólares distribuidos en 31 empresas, con un valor patrimonial neto por acción (NAV) de 13,23 $ al 30 de junio de 2025.
Durante el 2T, LIEN financió a nueve empresas de la cartera por un valor nominal agregado de 39,1 millones de dólares y posteriormente aportó 17,2 millones de dólares adicionales a cinco prestatarios. La compañía dispone de una sólida liquidez con 108,8 millones de dólares disponibles al cierre del trimestre. El Consejo declaró un dividendo de 0,34 $ por acción para el tercer trimestre de 2025, pagadero el 10 de octubre de 2025.
Chicago Atlantic BDC (NASDAQ: LIEN)는 2025년 2분기 강한 실적을 발표했습니다. 총 투자수익(총 총투자수익) 13.1백만 달러와 순투자수익 7.7백만 달러(주당 0.34달러)를 기록했습니다. 회사의 투자 포트폴리오는 31개 포트폴리오 기업에 걸쳐 307.5백만 달러에 달했으며, 2025년 6월 30일 기준 주당 순자산가치(NAV)는 13.23달러였습니다.
2분기 동안 LIEN은 총 명목가치 39.1백만 달러를 투입해 9개 포트폴리오 기업을 지원했으며 이후 5개 차입자에게 추가로 17.2백만 달러를 자금 지원했습니다. 회사는 분기 말 기준 108.8백만 달러의 가용 유동성을 유지하고 있습니다. 이사회는 2025년 3분기 배당금으로 주당 0.34달러를 선언했으며, 배당금은 2025년 10월 10일에 지급됩니다.
Chicago Atlantic BDC (NASDAQ: LIEN) a publié de solides résultats pour le 2e trimestre 2025, avec des revenus bruts totaux d'investissement de 13,1 millions de dollars et un revenu net d'investissement de 7,7 millions de dollars (0,34 $ par action). Le portefeuille d'investissement de la société s'élève à 307,5 millions de dollars répartis sur 31 sociétés, avec une valeur nette d'inventaire par action (NAV) de 13,23 $ au 30 juin 2025.
Au 2e trimestre, LIEN a financé neuf sociétés du portefeuille pour une valeur nominale agrégée de 39,1 millions de dollars et a ensuite accordé 17,2 millions de dollars supplémentaires à cinq emprunteurs. La société dispose d'une forte liquidité avec 108,8 millions de dollars disponibles à la fin du trimestre. Le conseil a déclaré un dividende de 0,34 $ par action pour le 3e trimestre 2025, payable le 10 octobre 2025.
Chicago Atlantic BDC (NASDAQ: LIEN) meldete starke Finanzergebnisse für das 2. Quartal 2025, mit bruttoerträgen aus Investitionen insgesamt von 13,1 Millionen US-Dollar und einem Nettoanlageergebnis von 7,7 Millionen US-Dollar (0,34 $ je Aktie). Das Anlageportfolio des Unternehmens belief sich auf 307,5 Millionen US-Dollar in 31 Portfoliounternehmen, mit einem NAV je Aktie von 13,23 $ zum 30. Juni 2025.
Im 2. Quartal finanzierte LIEN neun Portfoliounternehmen mit einem aggregierten Nennwert von 39,1 Millionen US-Dollar und stellte anschließend weitere 17,2 Millionen US-Dollar an fünf Kreditnehmer bereit. Das Unternehmen verfügt über eine starke Liquidität mit 108,8 Millionen US-Dollar verfügbar zum Quartalsende. Der Vorstand erklärte eine Dividende von 0,34 $ je Aktie für das 3. Quartal 2025, zahlbar am 10. Oktober 2025.
- Net investment income of $7.7 million ($0.34 per share)
- Strong deployment of $56 million in gross fundings during Q2 and early Q3
- Large originations pipeline of $780 million across the platform
- No loans on non-accrual status
- NAV per share increased from $13.19 to $13.23
- Principal repayments of $22.3 million during Q2
- $5.0 million of borrowings outstanding on credit facility
Insights
LIEN delivered solid Q2 results with stable NII of $0.34/share fully covering its dividend while expanding its investment portfolio.
Chicago Atlantic BDC has reported steady performance for Q2 2025 with
The
LIEN's NAV increased slightly to
The company has maintained robust liquidity with
The deployment of
With the current interest rate environment, BDCs like LIEN that primarily invest in floating-rate loans should continue to generate attractive yields, though this will depend on the broader interest rate trajectory.
NEW YORK, Aug. 14, 2025 (GLOBE NEWSWIRE) -- Chicago Atlantic BDC, Inc. (“LIEN” or the “Company”) (NASDAQ: LIEN), a specialty finance company that has elected to be regulated as a business development company, today announced its financial results for the second quarter ended June 30, 2025.
Second Quarter 2025 Highlights and Subsequent Activity
- Total gross investment income of
$13.1 million - Net investment income of
$7.7 million , or$0.34 per weighted average share outstanding - Total investment portfolio of
$307.5 million at fair value - Net asset value (“NAV”) per share was
$13.23 on June 30, 2025 - Declared a dividend of
$0.34 per share for the quarter ending September 30, 2025 payable on October 10, 2025 to shareholders of record of September 29, 2025 - Funded nine portfolio companies with
$39.1 million in aggregate par value during the second quarter of 2025 - Subsequent to quarter end, the Company funded
$17.2 million in investments across five borrowers - As of June 30, 2025, there were 22,820,408 common shares issued and outstanding on a basic and fully diluted basis
Peter Sack, Chief Executive Officer of the Company, commented, “Through a consistent and measured approach, we deployed
Portfolio and Investment Activity
- As of June 30, 2025, the Company’s investment portfolio had an aggregate fair value of approximately
$307.5 million across 31 portfolio companies. - During the quarter ended June 30, 2025, the Company funded nine portfolio companies with an aggregate par value of
$39.1 million , three of which were in new borrowers. Subsequent to quarter end, the Company funded five investments with an aggregate par value of$17.2 million , three of which were to new borrowers. - During the quarter ended June 30, 2025, the Company had principal repayments of
$22.3 million of which$3.1 million was receivable as of June 30, 2025. - As of June 30, 2025, there were no loans on non-accrual status.
Results of Operations
For the three months ended June 30, 2025, total investment income was approximately
Liquidity and Capital Resources
As of June 30, 2025, the Company had
Net Asset Value
As of June 30, 2025, NAV per share was
Dividend
The Company’s Board of Directors declared a cash dividend of
Conference Call and Quarterly Earnings Presentation
The Company will host a conference call and live audio webcast, both open for the general public to hear, to discuss the Company's second quarter 2025 financial results at 9:00 a.m. Eastern Time on Thursday, August 14, 2025. The number to call for the conference call is (833) 630-1956 (international callers: 412-317-1837). The live audio webcast of the call will also be available on the Company’s website at lien.chicagoatlantic.com.
A replay of the call will be available at lien.chicagoatlantic.com by the end of day on August 14, 2025.
Call Details – Chicago Atlantic BDC, Inc. Second Quarter 2025 Financial Results:
- When: Thursday, August 14, 2025
- Time: 9:00 a.m. ET
- Webcast Live Stream: https://edge.media-server.com/mmc/p/f59d9m79
- Replay: lien.chicagoatlantic.com
LIEN posted its Second Quarter 2025 Earnings Presentation on the Events and Presentations page of its website, lien.chicagoatlantic.com. LIEN routinely posts important information for investors on its website. The Company intends to use this website as a means of disclosing material information, for complying with our disclosure obligations under Regulation FD and to post and update investor presentations and similar materials on a regular basis. The Company encourages investors, analysts, the media and others interested in LIEN to monitor the Investor Relations page of its website, in addition to following its press releases, Securities and Exchange Commission (“SEC”) filings, publicly available earnings calls, presentations, webcasts and other information posted from time to time on the website. Please visit the IR Resources section of the website to sign up for email notifications.
About Chicago Atlantic BDC, Inc.
The Company is a specialty finance company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended, and has elected to be treated as a regulated investment company for U.S. federal income tax purposes. The Company’s investment objective is to maximize risk-adjusted returns on equity for its stockholders by investing primarily in direct loans to privately held middle-market companies, with a primary focus on cannabis companies. The Company is managed by Chicago Atlantic BDC Advisers, LLC, an investment manager focused on the cannabis industry and other niche or underfollowed sectors. For more information, please visit lien.chicagoatlantic.com.
Forward-Looking Statements
Certain information contained herein may constitute “forward-looking statements” that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about the Company, its current and prospective portfolio investments, its industry, its beliefs and opinions, and its assumptions. Words such as “anticipates,” “expects,” “intends,” “plans,” “will,” “may,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “should,” “targets,” “projects,” “outlook,” “potential,” “predicts” and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the Company’s control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements including, without limitation, the risks, uncertainties and other factors identified in the Company’s filings with the SEC. Investors should not place undue reliance on these forward-looking statements, which apply only as of the date on which the Company makes them. The Company does not undertake any obligation to update or revise any forward-looking statements or any other information contained herein, except as required by applicable law.
Contact
Tripp Sullivan
Lisa Kampf
SCR Partners
LIEN@chicagoatlantic.com
| CHICAGO ATLANTIC BDC, INC. Statements of Assets and Liabilities | ||||||||
| June 30, 2025 | March 31, 2025 | |||||||
| (Unaudited) | (Unaudited) | |||||||
| ASSETS | ||||||||
| Investments at fair value: | ||||||||
| Non-control/non-affiliate investments at fair value (amortized cost of | $ | 307,499,004 | $ | 289,262,741 | ||||
| Cash and cash equivalents | 13,829,354 | 14,921,739 | ||||||
| Due from affiliates | 6,517,715 | 5,202,278 | ||||||
| Interest receivable | 2,480,774 | 3,061,836 | ||||||
| Prepaid expenses and other assets | 1,423,572 | 1,250,109 | ||||||
| Total assets | $ | 331,750,419 | $ | 313,698,703 | ||||
| LIABILITIES | ||||||||
| Payable for Investments Purchased | $ | 11,760,000 | $ | - | ||||
| Distributions payable | 7,758,939 | 7,758,931 | ||||||
| Revolving line of credit | 5,000,000 | - | ||||||
| Income-based incentive fees payable | 1,968,640 | 2,122,865 | ||||||
| Management fee payable | 1,345,331 | 1,339,250 | ||||||
| Due to affiliates | 724,306 | 197,344 | ||||||
| Professional fees payable | 629,000 | 756,602 | ||||||
| Capital gains incentive fees payable | 299,006 | 115,074 | ||||||
| Other payables | 155,002 | 62,816 | ||||||
| Unearned interest income | 126,136 | 213,269 | ||||||
| Offering costs payable | 92,615 | - | ||||||
| Deferred financing costs payable | 47,881 | 114,548 | ||||||
| Total liabilities | $ | 29,906,856 | $ | 12,680,699 | ||||
| Commitments and contingencies (Note 6) | ||||||||
| NET ASSETS | ||||||||
| Common stock, | $ | 228,204 | $ | 228,204 | ||||
| Additional paid-in-capital | 303,152,264 | 303,152,031 | ||||||
| Distributable earnings (accumulated loss) | (1,536,905 | ) | (2,362,231 | ) | ||||
| Total net assets | $ | 301,843,563 | $ | 301,018,004 | ||||
| NET ASSET VALUE PER SHARE | $ | 13.23 | $ | 13.19 | ||||
| CHICAGO ATLANTIC BDC, INC. Statements of Operations (Unaudited) | ||||||||||||
| For the Three Months Ended | ||||||||||||
| June 30, 2025 | March 31, 2025 | |||||||||||
| INVESTMENT INCOME | ||||||||||||
| Non-control/non-affiliate investment income | ||||||||||||
| Interest income | $ | 11,906,066 | $ | 11,279,456 | ||||||||
| Fee income | 1,173,972 | 643,546 | ||||||||||
| Total investment income | 13,080,038 | 11,923,002 | ||||||||||
| EXPENSES | ||||||||||||
| Income-based incentive fees | 1,968,637 | 1,916,277 | ||||||||||
| General and administrative expense | 1,366,783 | 974,477 | ||||||||||
| Management fee | 1,345,331 | 1,260,875 | ||||||||||
| Legal expenses | 313,139 | 250,926 | ||||||||||
| Interest expense | 301,260 | 145,381 | ||||||||||
| Professional fees | 275,860 | 215,726 | ||||||||||
| Capital gains incentive fees | 183,932 | (6,813 | ) | |||||||||
| Other expenses | 169,717 | 144,422 | ||||||||||
| Audit expense | 153,750 | 190,002 | ||||||||||
| Sub-administrator fees | 128,805 | 157,785 | ||||||||||
| Transaction expenses related to the Loan Portfolio Acquisition | - | - | ||||||||||
| Excise tax expense | - | - | ||||||||||
| Total expenses | 6,207,214 | 5,249,058 | ||||||||||
| Waiver of General and administrative expense | - | (658,477 | ) | |||||||||
| Expense limitation agreement | (791,783 | ) | (316,000 | ) | ||||||||
| Net expenses | 5,415,431 | 4,274,581 | ||||||||||
| NET INVESTMENT INCOME (LOSS) | 7,664,607 | 7,648,421 | ||||||||||
| NET REALIZED GAIN (LOSS) FROM INVESTMENTS | ||||||||||||
| Non-controlled non-affiliate investments | - | - | ||||||||||
| Net realized gain (loss) from investments | - | - | ||||||||||
| NET CHANGE IN UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS | ||||||||||||
| Non-controlled/non-affiliate investments | 919,658 | (34,064 | ) | |||||||||
| Net change in unrealized appreciation (depreciation) on investments | 919,658 | (34,064 | ) | |||||||||
| Net realized and unrealized gains (losses) | 919,658 | (34,064 | ) | |||||||||
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 8,584,265 | $ | 7,614,357 | ||||||||
| NET INVESTMENT INCOME (LOSS) PER SHARE - BASIC AND DILUTED | $ | 0.34 | $ | 0.34 | ||||||||
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS PER SHARE - BASIC AND DILUTED | $ | 0.38 | $ | 0.33 | ||||||||
| WEIGHTED AVERAGE SHARES OUTSTANDING - BASIC AND DILUTED | 22,820,405 | 22,820,386 | ||||||||||
FAQ
What were LIEN's key financial results for Q2 2025?
What is Chicago Atlantic BDC's dividend payment for Q3 2025?
How many portfolio companies did LIEN fund in Q2 2025?
What is LIEN's current liquidity position?
What is Chicago Atlantic BDC's current NAV per share?
