Every 8-K that Chicago Atlantic BDC Inc (LIEN) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow LIEN and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full LIEN filings page.
Chicago Atlantic BDC, Inc. reported second-quarter 2026 total investment income of $14.0 million and net investment income of $7.7 million, or $0.34 per share, down from $16.7 million and $0.44 per share in the prior quarter. Net assets from operations were $6.1 million, or $0.27 per share. The portfolio had a fair value of $334.8 million across 37 companies, with a 16.0% weighted average yield on debt investments, 100% in senior secured debt and no loans on non-accrual status. Total assets were $344.0 million, net assets $302.5 million, net asset value $13.26 per share, and the debt-to-equity ratio declined to 0.09x. Liquidity was $73.9 million, including $73.0 million available on a $100.0 million credit facility.
The board declared a $0.34 per share third-quarter 2026 dividend, consistent with the prior seven quarters, for about $7.8 million in total. The company filed a $500 million shelf registration to support future capital raising. Chicago Atlantic is pursuing an all-stock merger with Chicago Atlantic Real Estate Finance, Inc. (REFI), expected to close in the fourth quarter of 2026 subject to stockholder and regulatory approvals. Based on March 31, 2026 net asset values, former REFI stockholders would be expected to own about 50.5% of the combined company, with the final ownership to be set by an exchange ratio calculated shortly before closing.
Chicago Atlantic BDC, Inc. reported results from its 2026 annual stockholder meeting. As of the April 27, 2026 record date, 22,820,590 common shares were outstanding and entitled to vote. Stockholders re-elected Americo Da Corte and Tracey Brophy Warson as Class 2 directors to serve until the 2029 annual meeting, with each receiving 4,619,100 or more votes in favor and 549,709 or fewer votes withheld, plus 7,647,065 broker non-votes.
Stockholders also ratified the selection of BDO USA, P.C. as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2026, with 12,740,473 votes for, 27,637 against and 47,764 abstentions.
Chicago Atlantic BDC, Inc. is entering an all-stock merger with Chicago Atlantic Real Estate Finance, Inc. in a NAV-for-NAV exchange. REFI will first elect to be regulated as a BDC, then merge into LIEN, which will remain the surviving, publicly traded BDC under the LIEN ticker.
The exchange ratio will be based on each company’s net asset value per share calculated shortly before closing; using March 31, 2026 NAVs, former REFI stockholders would own about 50.5% of LIEN. Pro forma materials describe a combined portfolio of approximately $771 million of senior secured loans and about $613 million of net asset value, with a trailing twelve‑month realized gross yield of 16.7%.
Both boards, acting on independent special committee recommendations and fairness opinions, unanimously approved the agreement. Closing is subject to stockholder approvals at both companies, multiple regulatory and Nasdaq conditions, completion of REFI’s BDC election and tax-related "Tax Dividends," and satisfaction of credit facility and support agreement conditions. The LIEN board agreed to consider in good faith a post-closing share repurchase program of up to $25 million, and Chicago Atlantic has committed $2 million toward REFI’s transaction expenses at or before closing.
Chicago Atlantic BDC, Inc. reported strong first‑quarter 2026 results, with total investment income of $16.7 million and net investment income of $10.0 million, or $0.44 per share, described as a record level.
The investment portfolio reached $364.0 million at fair value with a 15.8% gross weighted‑average yield, and net asset value was $13.33 per share as of March 31, 2026, slightly above $13.30 at year‑end 2025. Liquidity totaled $48.8 million, including $3.3 million of cash and undrawn capacity on a $100.0 million credit facility.
The company disclosed a recently filed shelf registration statement that, once effective, will allow issuance of up to $500 million of securities, and the board declared a $0.34 per share cash dividend for the quarter ending June 30, 2026, payable July 10, 2026 to shareholders of record on June 26, 2026.
Chicago Atlantic BDC, Inc. reported that director Patrick McCauley resigned from its board on April 10, 2026, effective immediately, to pursue other opportunities. He stated that his resignation was not due to any disagreement regarding the company’s operations, policies or practices.
After his departure, the board consists of five members, including four independent directors, which maintains a predominantly independent board structure. The filing was signed by Interim Chief Financial Officer Thomas Geoffroy on behalf of the company.
Chicago Atlantic BDC, Inc. reported strong fourth quarter and full-year 2025 results driven by its senior secured lending strategy focused largely on cannabis operators. For Q4 2025, total investment income was about $14.2 million and net investment income was $8.3 million, or $0.36 per share.
For 2025, total investment income reached $54.3 million and net investment income was $33.1 million, or $1.45 per share, up sharply from 2024. Net asset value per share rose to $13.30 as of December 31, 2025, with total net assets of $303.4 million. The portfolio held $333.3 million of investments at fair value across 39 portfolio companies, all senior secured, with a weighted average yield of 15.8% and no loans on non-accrual.
As of December 31, 2025, the company had $77.9 million of liquidity, including $75.0 million of undrawn capacity on its $100.0 million revolving credit facility; as of March 18, 2026, $54.5 million was outstanding on the facility and liquidity was about $47.5 million. The board declared a $0.34 per share cash dividend for the quarter ending March 31, 2026, payable April 14, 2026 to shareholders of record on March 30, 2026. Management highlighted a near-term pipeline exceeding $732 million and continued zero non-accruals, positioning the company to pursue further growth while emphasizing credit quality.
Chicago Atlantic BDC, Inc. (LIEN) furnished materials related to its third quarter ended September 30, 2025. The company issued a press release and an earnings presentation on November 13, 2025, tied to a conference call and live webcast at 9:00 a.m. Eastern time.
The materials were provided under Item 2.02 (Results of Operations and Financial Condition) and Item 7.01 (Regulation FD Disclosure) and are furnished, not filed, including Exhibits 99.1 and 99.2. This treatment limits their status under Section 18 of the Exchange Act and incorporation by reference unless specifically stated.