Chicago Atlantic BDC, Inc. Reports Second Quarter 2025 Financial Results
Chicago Atlantic BDC (NASDAQ: LIEN) reported strong Q2 2025 financial results, with total gross investment income of $13.1 million and net investment income of $7.7 million ($0.34 per share). The company's investment portfolio reached $307.5 million across 31 portfolio companies, with a NAV per share of $13.23 as of June 30, 2025.
During Q2, LIEN funded nine portfolio companies with $39.1 million in aggregate par value and subsequently funded an additional $17.2 million across five borrowers. The company maintains strong liquidity with $108.8 million available as of Q2 end. The Board declared a dividend of $0.34 per share for Q3 2025, payable on October 10, 2025.
Chicago Atlantic BDC (NASDAQ: LIEN) ha comunicato solidi risultati finanziari per il 2掳 trimestre 2025, con ricavi lordi totali da investimenti pari a 13,1 milioni di dollari e reddito netto da investimenti di 7,7 milioni di dollari (0,34 $ per azione). Il portafoglio investimenti della societ脿 ha raggiunto 307,5 milioni di dollari distribuiti su 31 societ脿 in portafoglio, con un valore patrimoniale netto per azione (NAV) di 13,23 $ al 30 giugno 2025.
Nel 2掳 trimestre LIEN ha finanziato nove societ脿 del portafoglio per un valore nominale aggregato di 39,1 milioni di dollari e successivamente ha erogato un ulteriore 17,2 milioni di dollari a cinque prenditori. La societ脿 mantiene una solida liquidit脿 con 108,8 milioni di dollari disponibili alla chiusura del trimestre. Il Consiglio ha dichiarato un dividendo di 0,34 $ per azione per il 3掳 trimestre 2025, pagabile il 10 ottobre 2025.
Chicago Atlantic BDC (NASDAQ: LIEN) inform贸 s贸lidos resultados financieros en el segundo trimestre de 2025, con ingresos brutos totales por inversiones de 13,1 millones de d贸lares y ingresos netos por inversiones de 7,7 millones de d贸lares (0,34 $ por acci贸n). La cartera de inversiones de la compa帽铆a alcanz贸 307,5 millones de d贸lares distribuidos en 31 empresas, con un valor patrimonial neto por acci贸n (NAV) de 13,23 $ al 30 de junio de 2025.
Durante el 2T, LIEN financi贸 a nueve empresas de la cartera por un valor nominal agregado de 39,1 millones de d贸lares y posteriormente aport贸 17,2 millones de d贸lares adicionales a cinco prestatarios. La compa帽铆a dispone de una s贸lida liquidez con 108,8 millones de d贸lares disponibles al cierre del trimestre. El Consejo declar贸 un dividendo de 0,34 $ por acci贸n para el tercer trimestre de 2025, pagadero el 10 de octubre de 2025.
Chicago Atlantic BDC (NASDAQ: LIEN)電� 2025雲� 2攵勱赴 臧曧暅 鞁れ爜鞚� 氚滍憸頄堨姷雼堧嫟. 齑� 韴瀽靾橃澋(齑� 齑濏埇鞛愳垬鞚�) 13.1氚彪 雼煬鞕赌 靾滍埇鞛愳垬鞚� 7.7氚彪 雼煬(欤茧嫻 0.34雼煬)毳� 旮半頄堨姷雼堧嫟. 須岇偓鞚� 韴瀽 韽姼韽措Μ鞓る姅 31臧� 韽姼韽措Μ鞓� 旮办梾鞐� 瓯胳硱 307.5氚彪 雼煬鞐� 雼枅鞙茧┌, 2025雲� 6鞗� 30鞚� 旮办 欤茧嫻 靾滌瀽靷瓣皜旃�(NAV)電� 13.23雼煬鞓赌鞀惦媹雼�.
2攵勱赴 霃欖晥 LIEN鞚� 齑� 氇呺臧�旃� 39.1氚彪 雼煬毳� 韴瀰頃� 9臧� 韽姼韽措Μ鞓� 旮办梾鞚� 歆�鞗�頄堨溂氅� 鞚错泟 5臧� 彀瀰鞛愳棎瓴� 於旉皜搿� 17.2氚彪 雼煬毳� 鞛愱笀 歆�鞗愴枅鞀惦媹雼�. 須岇偓電� 攵勱赴 毵� 旮办 108.8氚彪 雼煬鞚� 臧�鞖� 鞙犽彊靹�鞚� 鞙犾頃橁碃 鞛堨姷雼堧嫟. 鞚挫偓須岆姅 2025雲� 3攵勱赴 氚半嫻旮堨溂搿� 欤茧嫻 0.34雼煬毳� 靹犾柛頄堨溂氅�, 氚半嫻旮堨潃 2025雲� 10鞗� 10鞚检棎 歆�旮夒惄雼堧嫟.
Chicago Atlantic BDC (NASDAQ: LIEN) a publi茅 de solides r茅sultats pour le 2e trimestre 2025, avec des revenus bruts totaux d'investissement de 13,1 millions de dollars et un revenu net d'investissement de 7,7 millions de dollars (0,34 $ par action). Le portefeuille d'investissement de la soci茅t茅 s'茅l猫ve 脿 307,5 millions de dollars r茅partis sur 31 soci茅t茅s, avec une valeur nette d'inventaire par action (NAV) de 13,23 $ au 30 juin 2025.
Au 2e trimestre, LIEN a financ茅 neuf soci茅t茅s du portefeuille pour une valeur nominale agr茅g茅e de 39,1 millions de dollars et a ensuite accord茅 17,2 millions de dollars suppl茅mentaires 脿 cinq emprunteurs. La soci茅t茅 dispose d'une forte liquidit茅 avec 108,8 millions de dollars disponibles 脿 la fin du trimestre. Le conseil a d茅clar茅 un dividende de 0,34 $ par action pour le 3e trimestre 2025, payable le 10 octobre 2025.
Chicago Atlantic BDC (NASDAQ: LIEN) meldete starke Finanzergebnisse f眉r das 2. Quartal 2025, mit bruttoertr盲gen aus Investitionen insgesamt von 13,1 Millionen US-Dollar und einem Nettoanlageergebnis von 7,7 Millionen US-Dollar (0,34 $ je Aktie). Das Anlageportfolio des Unternehmens belief sich auf 307,5 Millionen US-Dollar in 31 Portfoliounternehmen, mit einem NAV je Aktie von 13,23 $ zum 30. Juni 2025.
Im 2. Quartal finanzierte LIEN neun Portfoliounternehmen mit einem aggregierten Nennwert von 39,1 Millionen US-Dollar und stellte anschlie脽end weitere 17,2 Millionen US-Dollar an f眉nf Kreditnehmer bereit. Das Unternehmen verf眉gt 眉ber eine starke Liquidit盲t mit 108,8 Millionen US-Dollar verf眉gbar zum Quartalsende. Der Vorstand erkl盲rte eine Dividende von 0,34 $ je Aktie f眉r das 3. Quartal 2025, zahlbar am 10. Oktober 2025.
- Net investment income of $7.7 million ($0.34 per share)
- Strong deployment of $56 million in gross fundings during Q2 and early Q3
- Large originations pipeline of $780 million across the platform
- No loans on non-accrual status
- NAV per share increased from $13.19 to $13.23
- Principal repayments of $22.3 million during Q2
- $5.0 million of borrowings outstanding on credit facility
Insights
LIEN delivered solid Q2 results with stable NII of $0.34/share fully covering its dividend while expanding its investment portfolio.
Chicago Atlantic BDC has reported steady performance for Q2 2025 with
The
LIEN's NAV increased slightly to
The company has maintained robust liquidity with
The deployment of
With the current interest rate environment, BDCs like LIEN that primarily invest in floating-rate loans should continue to generate attractive yields, though this will depend on the broader interest rate trajectory.
NEW YORK, Aug. 14, 2025 (GLOBE NEWSWIRE) -- Chicago Atlantic BDC, Inc.听(鈥淟IEN鈥� or the 鈥淐ompany鈥�) (NASDAQ: LIEN), a specialty finance company that has elected to be regulated as a business development company, today announced its financial results for the second quarter ended June 30, 2025.
Second Quarter 2025 Highlights and Subsequent Activity
- Total gross investment income of
$13.1 million - Net investment income of
$7.7 million , or$0.34 per weighted average share outstanding - Total investment portfolio of
$307.5 million at fair value - Net asset value (鈥淣AV鈥�) per share was
$13.23 on June 30, 2025 - Declared a dividend of
$0.34 per share for the quarter ending September 30, 2025 payable on October 10, 2025 to shareholders of record of September 29, 2025 - Funded nine portfolio companies with
$39.1 million in aggregate par value during the second quarter of 2025 - Subsequent to quarter end, the Company funded
$17.2 million in investments across five borrowers - As of June 30, 2025, there were 22,820,408 common shares issued and outstanding on a basic and fully diluted basis
Peter Sack, Chief Executive Officer of the Company, commented, 鈥淭hrough a consistent and measured approach, we deployed
Portfolio and Investment Activity
- As of June 30, 2025, the Company鈥檚 investment portfolio had an aggregate fair value of approximately
$307.5 million across 31 portfolio companies. - During the quarter ended June 30, 2025, the Company funded nine portfolio companies with an aggregate par value of
$39.1 million , three of which were in new borrowers. Subsequent to quarter end, the Company funded five investments with an aggregate par value of$17.2 million , three of which were to new borrowers. - During the quarter ended June 30, 2025, the Company had principal repayments of
$22.3 million of which$3.1 million was receivable as of June 30, 2025. - As of June 30, 2025, there were no loans on non-accrual status.
Results of Operations
For the three听months ended June 30, 2025, total investment income was approximately
Liquidity and Capital Resources
As of June 30, 2025, the Company had
Net Asset Value
As of June 30, 2025, NAV per share was
Dividend
The Company鈥檚 Board of Directors declared a cash dividend of
Conference Call and Quarterly Earnings Presentation
The Company will host a conference call and live audio webcast, both open for the general public to hear, to discuss the Company's second quarter 2025 financial results at听9:00 a.m. Eastern Time on Thursday, August 14, 2025. The number to call for the conference call is (833) 630-1956 (international callers: 412-317-1837). The live audio webcast of the call will also be available on the听Company鈥檚 website at lien.chicagoatlantic.com.
A replay of the call will be available at听lien.chicagoatlantic.com by the end of day on August 14, 2025.
Call Details 鈥� Chicago Atlantic BDC, Inc. Second Quarter 2025 Financial Results:
- When: Thursday, August 14, 2025
- Time: 9:00 a.m. ET
- Webcast Live Stream:
- Replay:听濒颈别苍.肠丑颈肠补驳辞补迟濒补苍迟颈肠.肠辞尘
LIEN posted its Second Quarter 2025 Earnings Presentation on the Events and Presentations page of its website, lien.chicagoatlantic.com. LIEN routinely posts important information for investors on its website. The Company intends to use this website as a means of disclosing material information, for complying with our disclosure obligations under Regulation FD and to post and update investor presentations and similar materials on a regular basis. The Company encourages investors, analysts, the media and others interested in LIEN to monitor the Investor Relations page of its website, in addition to following its press releases, Securities and Exchange Commission (鈥淪EC鈥�) filings, publicly available earnings calls, presentations, webcasts and other information posted from time to time on the website. Please visit the IR Resources section of the website to sign up for email notifications.
About Chicago Atlantic BDC, Inc.
The Company is a specialty finance company that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended, and has elected to be treated as a regulated investment company for U.S. federal income tax purposes. The Company鈥檚 investment objective is to maximize risk-adjusted returns on equity for its stockholders by investing primarily in direct loans to privately held middle-market companies, with a primary focus on cannabis companies. The Company is managed by Chicago Atlantic BDC Advisers, LLC, an investment manager focused on the cannabis industry and other niche or underfollowed sectors. For more information, please visit lien.chicagoatlantic.com.
Forward-Looking Statements
Certain information contained herein may constitute 鈥渇orward-looking statements鈥� that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about the Company, its current and prospective portfolio investments, its industry, its beliefs and opinions, and its assumptions. Words such as 鈥渁nticipates,鈥� 鈥渆xpects,鈥� 鈥渋ntends,鈥� 鈥減lans,鈥� 鈥渨ill,鈥� 鈥渕ay,鈥� 鈥渃ontinue,鈥� 鈥渂elieves,鈥� 鈥渟eeks,鈥� 鈥渆stimates,鈥� 鈥渨ould,鈥� 鈥渃ould,鈥� 鈥渟hould,鈥� 鈥渢argets,鈥� 鈥減rojects,鈥� 鈥渙utlook,鈥� 鈥減otential,鈥� 鈥減redicts鈥� and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the Company鈥檚 control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements including, without limitation, the risks, uncertainties and other factors identified in the Company鈥檚 filings with the SEC. Investors should not place undue reliance on these forward-looking statements, which apply only as of the date on which the Company makes them. The Company does not undertake any obligation to update or revise any forward-looking statements or any other information contained herein, except as required by applicable law.
Contact
Tripp Sullivan
Lisa Kampf
SCR Partners
[email protected]
| CHICAGO ATLANTIC BDC, INC. Statements of Assets and Liabilities | ||||||||
| 听 | June 30, 2025 | 听 | March 31, 2025 | 听 | ||||
| 听 | (Unaudited) | 听 | (Unaudited) | 听 | ||||
| ASSETS | 听 | 听 | 听 | 听 | ||||
| Investments at fair value: | 听 | 听 | 听 | 听 | ||||
| Non-control/non-affiliate investments at fair value (amortized cost of | $ | 307,499,004 | 听 | 听 | $ | 289,262,741 | 听 | 听 |
| Cash and cash equivalents | 听 | 13,829,354 | 听 | 听 | 听 | 14,921,739 | 听 | 听 |
| Due from affiliates | 听 | 6,517,715 | 听 | 听 | 听 | 5,202,278 | 听 | 听 |
| Interest receivable | 听 | 2,480,774 | 听 | 听 | 听 | 3,061,836 | 听 | 听 |
| Prepaid expenses and other assets | 听 | 1,423,572 | 听 | 听 | 听 | 1,250,109 | 听 | 听 |
| Total assets | $ | 331,750,419 | 听 | 听 | $ | 313,698,703 | 听 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||
| LIABILITIES | 听 | 听 | 听 | 听 | 听 | 听 | ||
| Payable for Investments Purchased | $ | 11,760,000 | 听 | 听 | $ | - | 听 | 听 |
| Distributions payable | 听 | 7,758,939 | 听 | 听 | 听 | 7,758,931 | 听 | 听 |
| Revolving line of credit | 听 | 5,000,000 | 听 | 听 | 听 | - | 听 | 听 |
| Income-based incentive fees payable | 听 | 1,968,640 | 听 | 听 | 听 | 2,122,865 | 听 | 听 |
| Management fee payable | 听 | 1,345,331 | 听 | 听 | 听 | 1,339,250 | 听 | 听 |
| Due to affiliates | 听 | 724,306 | 听 | 听 | 听 | 197,344 | 听 | 听 |
| Professional fees payable | 听 | 629,000 | 听 | 听 | 听 | 756,602 | 听 | 听 |
| Capital gains incentive fees payable | 听 | 299,006 | 听 | 听 | 听 | 115,074 | 听 | 听 |
| Other payables | 听 | 155,002 | 听 | 听 | 听 | 62,816 | 听 | 听 |
| Unearned interest income | 听 | 126,136 | 听 | 听 | 听 | 213,269 | 听 | 听 |
| Offering costs payable | 听 | 92,615 | 听 | 听 | 听 | - | 听 | 听 |
| Deferred financing costs payable | 听 | 47,881 | 听 | 听 | 听 | 114,548 | 听 | 听 |
| Total liabilities | $ | 29,906,856 | 听 | 听 | $ | 12,680,699 | 听 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||
| Commitments and contingencies (Note 6) | 听 | 听 | 听 | 听 | 听 | 听 | ||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||
| 听NET ASSETS | 听 | 听 | 听 | 听 | 听 | 听 | ||
| Common stock, | $ | 228,204 | 听 | 听 | $ | 228,204 | 听 | 听 |
| Additional paid-in-capital | 听 | 303,152,264 | 听 | 听 | 听 | 303,152,031 | 听 | 听 |
| Distributable earnings (accumulated loss) | 听 | 听听听听听听 (1,536,905 | ) | 听 | 听 | (2,362,231 | ) | 听 |
| Total net assets | $ | 301,843,563 | 听 | 听 | $ | 301,018,004 | 听 | 听 |
| NET ASSET VALUE PER SHARE | $ | 13.23 | 听 | 听 | $ | 13.19 | 听 | 听 |
| CHICAGO ATLANTIC BDC, INC. Statements of Operations (Unaudited) | ||||||||||||
| 听 | 听 | For the Three Months Ended | 听 | 听 | ||||||||
| 听 | 听 | June 30, 2025 | 听 | 听 | 听 | March 31, 2025 | 听 | 听 | ||||
| INVESTMENT INCOME | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Non-control/non-affiliate investment income | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Interest income | 听 | $ | 11,906,066 | 听 | 听 | $ | 11,279,456 | 听 | 听 | |||
| Fee income | 听 | 听 | 1,173,972 | 听 | 听 | 听 | 643,546 | 听 | 听 | |||
| Total investment income | 听 | 听 | 13,080,038 | 听 | 听 | 听 | 11,923,002 | 听 | 听 | |||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||
| EXPENSES | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||
| Income-based incentive fees | 听 | 听 | 1,968,637 | 听 | 听 | 听 | 1,916,277 | 听 | 听 | |||
| General and administrative expense | 听 | 听 | 1,366,783 | 听 | 听 | 听 | 974,477 | 听 | 听 | |||
| Management fee | 听 | 听 | 1,345,331 | 听 | 听 | 听 | 1,260,875 | 听 | 听 | |||
| Legal expenses | 听 | 听 | 313,139 | 听 | 听 | 听 | 250,926 | 听 | 听 | |||
| Interest expense | 听 | 听 | 301,260 | 听 | 听 | 听 | 145,381 | 听 | 听 | |||
| Professional fees | 听 | 听 | 275,860 | 听 | 听 | 听 | 215,726 | 听 | 听 | |||
| Capital gains incentive fees | 听 | 听 | 183,932 | 听 | 听 | 听 | (6,813 | ) | 听 | |||
| Other expenses | 听 | 听 | 169,717 | 听 | 听 | 听 | 听听听听听听听听144,422 | 听 | 听 | |||
| Audit expense | 听 | 听 | 153,750 | 听 | 听 | 听 | 190,002 | 听 | 听 | |||
| Sub-administrator fees | 听 | 听 | 128,805 | 听 | 听 | 听 | 157,785 | 听 | 听 | |||
| Transaction expenses related to the Loan Portfolio Acquisition | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | |||
| Excise tax expense | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | |||
| Total expenses | 听 | 听 | 6,207,214 | 听 | 听 | 听 | 5,249,058 | 听 | 听 | |||
| Waiver of General and administrative expense | 听 | 听 | - | 听 | 听 | 听 | (658,477 | )听 | 听 | |||
| Expense limitation agreement | 听 | 听 | (791,783 | ) | 听 | 听 | (316,000 | )听 | 听 | |||
| Net expenses | 听 | 听 | 5,415,431 | 听 | 听 | 听 | 4,274,581 | 听 | 听 | |||
| NET INVESTMENT INCOME (LOSS) | 听 | 听 | 7,664,607 | 听 | 听 | 听 | 7,648,421 | 听 | 听 | |||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||
| NET REALIZED GAIN (LOSS) FROM INVESTMENTS | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||
| Non-controlled non-affiliate investments | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | |||
| Net realized gain (loss) from investments | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | |||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||
| NET CHANGE IN UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||
| Non-controlled/non-affiliate investments | 听 | 听 | 919,658 | 听 | 听 | 听 | (34,064 | ) | 听 | |||
| Net change in unrealized appreciation (depreciation) on investments | 听 | 听 | 919,658 | 听 | 听 | 听 | (34,064 | ) | 听 | |||
| Net realized and unrealized gains (losses) | 听 | 听 | 919,658 | 听 | 听 | 听 | (34,064 | ) | 听 | |||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | 听 | $ | 8,584,265 | 听 | 听 | $ | 7,614,357 | 听 | 听 | |||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||
| NET INVESTMENT INCOME (LOSS) PER SHARE - BASIC AND DILUTED | 听 | $ | 0.34 | 听 | 听 | $ | 0.34 | 听 | 听 | |||
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS PER SHARE - BASIC AND DILUTED | 听 | $ | 0.38 | 听 | 听 | $ | 0.33 | 听 | 听 | |||
| WEIGHTED AVERAGE SHARES OUTSTANDING - BASIC AND DILUTED | 听 | 听 | 22,820,405 | 听 | 听 | 听 | 22,820,386 | 听 | 听 | |||
FAQ
What were LIEN's key financial results for Q2 2025?
What is Chicago Atlantic BDC's dividend payment for Q3 2025?
How many portfolio companies did LIEN fund in Q2 2025?
What is LIEN's current liquidity position?
What is Chicago Atlantic BDC's current NAV per share?
