Every material Form 8-K Chicago Atlantic BDC, Inc. has filed with the SEC since May 14, 2026, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Chicago Atlantic BDC (LIEN) reported second quarter 2026 results showing lower income and earnings than in the first quarter. Total investment income fell to $14.0 million from $16.7 million, and net increase in net assets from operations dropped to $6.1 million from $8.5 million. The company declared a third quarter dividend of $0.34 per share, unchanged from the prior quarter, and said the pending merger with REFI is expected to close in the fourth quarter of 2026.
Total investment income was $14.0 million ($0.61 per share) for the quarter ended June 30, 2026, versus $16.7 million ($0.73 per share) for the quarter ended March 31, 2026.
Net investment income was $7.7 million ($0.34 per share), down from $10.0 million ($0.44 per share).
Net asset value per share was $13.26 at June 30, 2026, compared with $13.33 at March 31, 2026.
The Board declared a third quarter 2026 dividend of $0.34 per share, payable October 9, 2026, with a record date of September 25, 2026.
Chicago Atlantic BDC (LIEN) signed a merger agreement under which REFI will elect to be regulated as a business development company and merge into LIEN in an all-stock deal, with LIEN continuing as the surviving public company. REFI stockholders would be expected to own about 50.5% of LIEN after closing, based on March 31, 2026 net asset values, and the final split depends on the NAV ratio calculated shortly before closing. Completion requires stockholder approvals at both companies, regulatory approvals and lender consents, with closing expected in the fourth quarter of 2026.
Former REFI stockholders would be expected to own approximately 50.5% of LIEN after the merger, based on March 31, 2026 NAVs; the final percentage depends on the closing NAV ratio.
Pro-forma NAV of $613 million and pro-forma portfolio of $771 million in investments, based on March 31, 2026 financial statements as reported on Form 10-Q.
LIEN board will consider in good faith a stock repurchase program of up to $25.0 million after closing, subject to market conditions.
Merger is currently expected to close in the fourth quarter of 2026; Chicago Atlantic has agreed to fund $2.0 million of REFI's transaction-related expenses.
Chicago Atlantic BDC reported first-quarter 2026 results, with net investment income of $10.0 million, or $0.44 per weighted average share, up from $8.3 million, or $0.36 per share, in the prior quarter. Net asset value per share rose to $13.33 from $13.30, but a $1.4 million net unrealized depreciation on investments reduced the net increase in net assets from operations to $8.5 million.
Total investment income was $16.7 million, compared with $14.2 million in the quarter ended December 31, 2025.
Net increase in net assets from operations was $8.5 million, or $0.37 per share, including $1.4 million of net unrealized depreciation.
The board declared a $0.34 per share dividend for the quarter ending June 30, 2026, payable July 10, 2026 to holders of record on June 26, 2026.
On May 11, 2026, the company filed a shelf registration statement that would allow it to issue up to $500 million of securities once declared effective.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Chicago Atlantic BDC, Inc. filing is on SEC EDGAR ↗. 8-K briefs of other companies →