Welcome to our dedicated page for Chicago Atlantic BDC news (Ticker: LIEN), a resource for investors and traders seeking the latest updates and insights on Chicago Atlantic BDC stock.
Chicago Atlantic BDC, Inc. reports developments for a specialty finance company that has elected to be regulated as a business development company. The company focuses on direct lending to privately held middle-market borrowers, with a particular emphasis on cannabis-related companies and senior secured credit.
Recurring news includes quarterly and annual financial results, portfolio funding activity, repayments, net asset value, non-accrual status, liquidity, and cash dividend declarations. Company updates also cover dividend reinvestment plan mechanics, earnings calls, investor conference participation, annual meeting matters, and other governance communications tied to its Nasdaq-listed common stock.
Chicago Atlantic BDC (NASDAQ: LIEN) has declared a quarterly cash dividend of $0.34 per share for the first quarter ending March 31, 2025. The company, operating as a specialty finance company regulated as a business development company, has implemented a dividend reinvestment plan (DRIP) for its stockholders.
Under the DRIP, dividends will be automatically reinvested in additional company common stock unless shareholders specifically opt out through their brokers or financial intermediaries. Stockholders wishing to receive cash dividends must contact their brokers to determine the necessary action and timing requirements.
Chicago Atlantic BDC (NASDAQ: LIEN), a specialty finance company and business development company, has scheduled its fourth quarter and full year 2024 financial results announcement for March 31, 2025. The company will release its results before market opening, followed by a conference call and live audio webcast at 8:30 a.m. Eastern Time.
Investors and interested parties can access the conference call by dialing (833) 630-1956 for domestic callers or 412-317-1837 for international participants. The live audio webcast will be available on the company's website at lien.chicagoatlantic.com, where a replay will also be accessible after the event.
Chicago Atlantic BDC (NASDAQ: LIEN) has secured a new $100 million senior secured revolving credit facility maturing in March 2028, with an interest rate of SOFR plus 3.00%. The company, which currently has no debt outstanding, plans to use this facility to fund portfolio growth and capitalize on lending opportunities.
The company recently announced a 36% increase in quarterly dividend to $0.34 per share for Q4 2024, up from $0.25 in Q3 2024. As of October 1, 2024, the investment portfolio features include 100% senior-secured loans, no non-accrual positions, and a 17.2% gross weighted-average yield of debt investments. The portfolio demonstrates strong metrics with a weighted average Sr. Secured Net Debt/EBITDA of 1.6x and weighted average interest coverage of 4.1x.
Chicago Atlantic BDC (NASDAQ: LIEN) has declared a cash dividend of $0.34 per share for Q4 2024, representing a 36% increase from the previous quarter's dividend of $0.25 per share. The dividend will be recorded on December 19, 2024, with payment scheduled for December 27, 2024.
The company maintains a dividend reinvestment plan (DRIP) that automatically reinvests dividends into additional common stock unless stockholders specifically opt out. Stockholders holding shares through brokers need to contact their financial intermediaries to receive cash dividends instead of stock reinvestment.
Chicago Atlantic BDC (NASDAQ: LIEN) reported its Q3 2024 financial results with total investment income of $3.2 million and net investment income of $0.0 million. The investment portfolio stood at $55.8 million at fair value, with NAV per share at $13.28. On October 1, 2024, the company completed a significant Loan Portfolio Acquisition, increasing net assets to approximately $302 million and expanding portfolio companies from 7 to 28. The acquisition involved issuing 16,605,372 new shares, resulting in CALP owning 72.8% of outstanding shares. The company positions itself as the only publicly listed BDC primarily focused on cannabis lending.