Chicago Atlantic BDC, Inc. reported second quarter 2026 financial results with net investment income of $7.7 million ($0.34 per share), down from $10.0 million in the prior quarter. The company announced a third quarter dividend of $0.34 per share, payable on October 9, 2026, to shareholders of record as of September 25, 2026. Net asset value per share decreased slightly to $13.26 from $13.33. The company maintains a $73.9 million liquidity position and has filed for a $500 million shelf registration statement. Additionally, the filing reiterates details regarding the proposed merger with Chicago Atlantic Real Estate Finance, Inc., expected to close in the fourth quarter of 2026. Chicago Atlantic BDC is a specialty finance company regulated as a business development company that primarily invests in direct loans to privately held middle-market companies, with a focus on the cannabis industry.

On June 17, 2026, Chicago Atlantic BDC, Inc. (LIEN) entered into an Agreement and Plan of Merger with Chicago Atlantic Real Estate Finance, Inc. (REFI), where REFI will merge into LIEN. REFI stockholders will receive LIEN common stock based on an exchange ratio determined by the relative net asset values of the companies shortly before the merger's effective time. The transaction is subject to stockholder approvals from both companies and regulatory requirements, including REFI's election to be regulated as a business development company. Additionally, the LIEN Board will consider adopting a share repurchase program of up to $25 million following the closing. Chicago Atlantic BDC, Inc. is a business development company that provides financing to various companies.