Chicago Atlantic Real Estate Finance: A Lower Yield Can Still Work
Chicago Atlantic Real Estate Finance's NAV-for-NAV merger with Chicago Atlantic BDC could reset its dividend to $0.37–$0.40 quarterly,…
SiliconBytes Insights NASDAQ
Chicago Atlantic Real Estate Finance, Inc.
REFI
3 stories
$241M Market cap · 2026-10-09
SiliconBytes Insights marginofdanger on X
$LIEN is an interesting small cap BDC. $13.26/share NAV, stock last $10.20/share, dividend yield of 13.3%. Company is doing an all-stock deal with $REFI which will essentially double the asset base to c. $800 million. Larger asset base should help narrow NAV discount given economies of scale and better cost of capital. Portfolio is largely cannabis credit, which is high coupon / low leverage and the $LIEN mgmt team has done a good job with its credit underwriting.
marginofdanger on X
$LIEN is an interesting small cap BDC. $13.26/share NAV, stock last $10.20/share, dividend yield of 13.3%. Company is doing an all-stock deal with $REFI which will essentially double the asset base to over $600 million. Larger asset base should help narrow NAV discount given economies of scale and better cost of capital. Portfolio is largely cannabis credit, which is high coupon / low leverage and the $LIEN mgmt team has done a good job with its credit underwriting.
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