[8-K] Silver Spike Investment Corp. Common Stock Reports Material Event

Rhea-AI Filing Summary

Chicago Atlantic BDC, Inc. (Nasdaq: LIEN) filed an 8-K reporting senior management changes effective July 1, 2025. Chief Financial Officer Martin Rodgers resigned; the company states his departure is not related to any disagreement over accounting, operations or policies.

The Board immediately appointed Thomas Geoffroy (age 50) as Interim CFO. Geoffroy joined Chicago Atlantic in 2022 and brings 20+ years of financial-services experience, including prior CFO roles at a Nasdaq-listed mortgage REIT and other credit-focused asset managers. His background spans fund administration at Ares Management, broker-dealer finance leadership, and nine years in Ernst & Young’s hedge-fund audit practice.

Concurrently, the Board named Gianni Fazio (age 29) as Chief Accounting Officer. A licensed CPA, Fazio joined the company in 2023 after roles at Adit Ventures and auditor Forvis Mazars.

The appointments are temporary for Geoffroy (interim) and permanent for Fazio until successors are duly elected or removed. No financial statements were included and no other material events were reported.

• Key takeaway: Routine leadership transition with experienced interim CFO mitigates operational risk, but investors may watch for a permanent hire and continuity in financial strategy.

Positive

• Immediate appointment of experienced interim CFO minimizes operational disruption.
• No reported disagreements indicate orderly transition, reducing governance risk.

Negative

• CFO resignation introduces uncertainty until a permanent successor is secured.
• Interim status may signal ongoing search, potentially diverting management focus.

Insights

Corporate Governance Expert

TL;DR: Routine CFO exit; swift interim appointment limits disruption but signals search for permanent finance head.

The resignation of CFO Martin Rodgers triggers the most common red-flag scan for governance issues, yet the company explicitly states no disagreement drove the exit. Swift designation of Thomas Geoffroy—whose résumé spans public REITs, hedge funds, and audit—demonstrates the Board’s succession planning. Investors should view the move as neutral short-term: liquidity oversight and internal controls remain under an experienced hand. However, interim status suggests an ongoing search process; prolonged vacancy could elevate execution risk, particularly for a BDC reliant on disciplined credit underwriting and regulatory reporting. Overall, governance protocols appear intact, minimizing immediate impact.

Financial Analyst

TL;DR: Management change unlikely to alter near-term earnings; watch for guidance shifts once permanent CFO named.

Because the filing lacks financial data, valuation drivers remain unchanged. Chicago Atlantic’s portfolio yield, NII trajectory, and leverage strategy are untouched by today’s leadership shuffle. Geoffroy’s prior mortgage-REIT tenure suggests familiarity with interest-rate‐sensitive balance sheets—useful as BDC spreads compress. Investors should monitor Q3 results for any accounting policy tweaks or reserve methodology changes that sometimes accompany new finance leadership. Until then, bond covenants, dividend outlook, and credit quality metrics are expected to stay the same.

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 01, 2025

Chicago Atlantic BDC, Inc.

(Exact name of Registrant as Specified in Its Charter)

Maryland			001-40564	86-2872887
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
600 Madison Avenue Suite 1800
New York, New York				10022
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: 212 905-4923

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.01 per share		LIEN		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July 1, 2025, Martin Rodgers resigned from his position as Chief Financial Officer of Chicago Atlantic BDC, Inc. (the “Company”), effective July 1, 2025. Mr. Rodgers’ decision to resign from his position as Chief Financial Officer of the Company was not due to a disagreement on any matter related to the Company’s operations, policies or practices.

On July 1, 2025, the board of directors of the Company (the “Board”) appointed Thomas Geoffroy to the position of Interim Chief Financial Officer of the Company, effective July 1, 2025. Mr. Geoffroy will serve as Interim Chief Financial Officer of the Company until his successor has been duly elected and qualified, or until the earlier of his resignation or removal.

Mr. Geoffroy, age 50, has over 20 years of accounting and finance experience with expertise in financial reporting, operations and internal controls for the financial services industry including extensive investment fund experience. Before joining Chicago Atlantic in 2022, Mr. Geoffroy was Chief Financial Officer of a NASDAQ listed mortgage REIT, a publicly traded credit-focused asset management firm, and family office. Prior to that he was Finance and Operations Principal (CFO), General Securities Principal and Chief Compliance Officer for United Capital Markets, a registered broker-dealer specializing in structured finance products. Mr. Geoffroy worked as Controller at Ares Management, and before that he served as Vice President of Fund Administration and Financial Reporting at S.A.C. Capital Advisors. Mr. Geoffroy spent 9 years as a CPA with Ernst & Young where he was a Senior Manager in the Financial Services Organization’s hedge fund audit practice.

On July 1, 2025, the Board appointed Gianni Fazio to the position of Chief Accounting Officer of the Company, effective July 1, 2025. Mr. Fazio will serve as Chief Accounting Officer of the Company until his successor has been duly elected and qualified, or until the earlier of his resignation or removal.

Mr. Fazio, age 29 is a licensed Certified Public Accountant with over 5 years of finance and accounting experience, focusing on the financial reporting and operations of investment managers. Prior to joining the Company in 2023, Mr. Fazio was a Venture Associate at Adit Ventures where he managed the operations and financial reporting of early-stage and late-stage venture funds. Mr. Fazio began his career as an auditor at Forvis Mazars. Mr. Fazio graduated with a Bachelor and Master of Science in Accountancy from the Long Island University.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit		Description
Number
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			Chicago Atlantic BDC, Inc.
Date:	July 3, 2025	By:	/s/ Peter Sack
			Chief Exectuive Officer

FAQ

Why did Chicago Atlantic BDC’s CFO resign?

The company states Martin Rodgers resigned on July 1, 2025 and that his departure was not due to any disagreement with operations or policies.

Who is the new Interim CFO of LIEN?

Thomas Geoffroy, a 20-year finance veteran with prior public-company CFO experience, became Interim CFO effective July 1, 2025.

Is the Interim CFO appointment permanent?

No. Geoffroy will serve until a successor is duly elected or earlier removal/resignation.

What qualifications does the new Chief Accounting Officer have?

Gianni Fazio is a Certified Public Accountant with 5+ years in fund reporting and auditing, joining Chicago Atlantic in 2023.

Does the 8-K include any financial results or guidance changes?

No. The filing is limited to management changes; no earnings or guidance data were provided.