Welcome to our dedicated page for Silver Spike Investment news (Ticker: SSIC), a resource for investors and traders seeking the latest updates and insights on Silver Spike Investment stock.
Silver Spike Investment Corp. (SSIC), which has been renamed Chicago Atlantic BDC, Inc. with the Nasdaq ticker LIEN, generates a steady stream of company-specific news tied to its role as a specialty finance business development company. Its disclosures emphasize a strategy of investing primarily in direct loans to privately held middle-market companies, with a focus on cannabis companies and, in earlier descriptions, other companies in the health and wellness sector. News items often explain how this lending activity and sector focus translate into investment income and portfolio developments.
Visitors to this news page can review earnings announcements where the company reports total investment income, net investment income, net asset value per share, and details of its secured loan and secured note portfolios. These releases also describe the composition of the investment portfolio, including the number of portfolio companies and the presence or absence of loans on non-accrual status. In addition, the company regularly announces cash dividends per share, along with record dates, payment dates, and information about its dividend reinvestment plan (DRIP).
Another key category of news relates to corporate transactions and strategic developments. The company has issued detailed communications about its Loan Portfolio Acquisition from Chicago Atlantic Loan Portfolio, LLC, including stockholder approval, closing of the transaction, and the resulting increase in net assets and number of portfolio companies. These items also describe the related joint venture between its adviser and Chicago Atlantic, changes to the investment advisory agreement, and adjustments to the company’s board and executive leadership.
Investors can also find conference call and webcast announcements for quarterly and annual financial results, including registration details and references to accompanying presentations. Together, these news items provide a record of the company’s financial performance, portfolio evolution, dividend activity, and governance changes over time.
Silver Spike Investment Corp., a finance company focused on the cannabis industry, reported its fiscal year-end results for December 31, 2022. The company generated $2.0 million in total investment income with a net investment income of $1.4 million, equating to $0.23 per share. The net asset value (NAV) per share increased to $13.91 from $13.73 in the prior quarter. The investment portfolio's fair value stood at $50.3 million. Scott Gordon, CEO, expressed optimism about the cannabis industry's long-term growth, highlighting a $35 million credit facility for MariMed.
Silver Spike Investment Corp. (SSIC) will report its financial results for the fiscal year ended December 31, 2022, before the market opens on March 31, 2023. A conference call and webcast to discuss these results are scheduled for 8:00 a.m. ET on the same day. Participants can register for the call through an online link. The company focuses on investing in the cannabis ecosystem, providing direct loans and equity investments to privately held cannabis companies. SSIC, managed by Silver Spike Capital, LLC, is designated as a business development company under the Investment Company Act of 1940.
Silver Spike Investment Corp. (NASDAQ: SSIC) has co-led a $35 million senior secured credit facility for MariMed Inc., a multi-state cannabis operator. This investment is part of SSIC's strategy to support growth in the cannabis sector, with confidence in MariMed's management to execute on their plans. Silver Spike Capital's Co-Head of Credit, Dino Colonna, emphasized their cautious approach in these volatile markets while seeking quality operators for their portfolio. SSIC is structured as a business development company, focusing on direct loans to cannabis businesses.
Silver Spike Investment Corp. reported its Q2 2023 financial results, highlighting total investment income of $1.2 million and net investment income of $0.6 million, or $0.09 per share. The company's net asset value (NAV) per share rose to $13.73 as of September 30, 2022, up from $13.64 at the end of Q1 2023. Silver Spike's investment portfolio was valued at $24.5 million, with significant liquidity of $61.1 million. The firm continues to explore lending opportunities in the cannabis sector.
Silver Spike Investment Corp. (NASDAQ: SSIC) allocated $21 million to Verano Holdings Corp.'s $350 million senior secured credit facility. Verano is known as a leading vertically integrated cannabis operator in the U.S. This investment is part of SSIC's strategy to grow its loan portfolio amidst a volatile capital market. Frank Kotsen, Head of Credit at Silver Spike Capital, expressed optimism about the company's underwriting approach to capitalize on current market conditions.
SSIC is a specialty finance company focused on direct loans to cannabis firms.
Silver Spike Investment Corp. (SSIC), a specialty finance firm focused on the cannabis sector, will release its financial results for Q2 2023 on November 10, 2022, after market close. A conference call and webcast to discuss these results are scheduled for the same day at 4:30 p.m. ET. Interested participants can register for the call and access a live stream through the SSIC website. A replay will be available post-call. SSIC operates under the Investment Company Act of 1940, specializing in direct loans to cannabis companies.
Silver Spike Investment Corp. reported its financial results for the quarter ended June 30, 2022. The company achieved total investment income of $0.8 million and net investment income of $0.2 million, equivalent to $0.04 per share. A significant achievement during the quarter was the funding of $24.4 million in loans to two new portfolio companies. Additionally, the net asset value (NAV) per share rose to $13.64 from $13.61 in the previous quarter, reflecting solid financial management.
Silver Spike Investment Corp. (NASDAQ: SSIC) announced it has co-led a senior secured term loan of up to $170 million to Shryne Group Inc., a key player in the cannabis industry. This loan is among the largest ever provided to a private cannabis company, showcasing Silver Spike's ability to offer tailored financing solutions. The funding aims to support Shryne's growth and strategic vision of delivering high-quality cannabis products across multiple states, with notable brands like Stiiizy leading the market.
Silver Spike Investment Corp. (NASDAQ: SSIC) successfully closed its initial public offering on February 8, 2022, issuing 6,071,429 shares at $14.00 each. The offering generated approximately $83.3 million in net proceeds, designated for investments in the cannabis sector and for general corporate purposes. SSIC operates as a business development company focusing on direct loans and equity investments in privately held cannabis companies. The stock began trading on NASDAQ on February 4, 2022.
Silver Spike Investment Corp. (SSIC) announced the pricing of its initial public offering (IPO) of 6,071,429 shares at
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