SEC-Approved Cannabis Lender Acquired By Investment Giant, Changes Ticker To $LIEN
Investment manager fund Chicago Atlantic recently acquired Silver Spike Investment Corp. (NASDAD: SSIC), the only SEC-approved business development company (BDC) focused on lending to the cannabis industry.
As a result, Silver Spike has been renamed Chicago Atlantic BDC, Inc., and its ticker symbol will change to $LIEN on October 2, 2024. Chicago Atlantic originates senior secured loans to state-licensed cannabis operators and has consistently traded at a premium.=
“Chicago Atlantic seeks to capitalize on opportunities in private markets by providing debt capital to lower middle-market companies, typically non-sponsor, and unique industries facing structural reasons for an insufficient supply of capital,” said the company’s new CEO, …