Cannabis Lender Chicago Atlantic Reports $3.2M In Q3 Income
Chicago Atlantic BDC, Inc. (NASDAQ:LIEN), a specialty finance firm focused on direct loans to middle-market and cannabis companies, announced its financial results Thursday for the third quarter ended September 30, 2024. The company highlighted a $3.2 million investment income and completed a significant Loan Portfolio Acquisition that increased its net assets to approximately $302 million.
Q3 2024 Financial Highlights
- Total investment income: $3.2 million
- Net investment income: $0.0 million, or $0.00 per share
- Investment portfolio: $55.8 million at fair value
- Net asset value (“NAV”) per share: $13.28 on September 30, 2024
Diversification Grows With New Portfolio Companies
The acquisition involved purchasing a loan portfolio from Chicago Atlantic Loan Portfolio, LLC in exchange for newly issued common stock. This transaction expanded the company’s investments to 28 portfolio companies from the previous seven, enhancing its diversification and scale.
The company also …