Chicago Atlantic BDC, Inc. Announces the Closing of a New $100 Million Senior Secured Revolving Credit Facility

Core Viewpoint - Chicago Atlantic BDC, Inc. has secured a new $100 million senior secured revolving credit facility, enhancing its liquidity and flexibility for future portfolio growth [1][2] Group 1: Credit Facility Details - The new credit facility matures in March 2028 and has an interest rate of SOFR plus 3.00% [1] - The facility is led by an FDIC-insured financial institution, indicating a strong banking partnership [2] Group 2: Company Strategy and Performance - The company currently has no outstanding debt, allowing it to leverage the new credit facility for disciplined portfolio growth [2] - A recent dividend of$ 0.34 per share was announced, representing a 36% increase from the previous quarter's dividend of $0.25 per share [2] Group 3: Investment Focus and Portfolio Metrics - Chicago Atlantic BDC is primarily focused on the U.S. cannabis industry and seeks to invest in niche opportunities that are typically underserved by traditional capital sources [3][8] - As of October 1, 2024, the company reported a gross weighted-average yield of 17.2% on debt investments, with 79% of the portfolio consisting of floating rate loans [5]