Silver Spike Investment Corp. ( (LIEN) ) has released its Q4 earnings. Here is a breakdown of the information Silver Spike Investment Corp. presented to its investors.
Chicago Atlantic BDC, Inc., formerly known as Silver Spike Investment Corp., is a specialty finance company focused on providing direct loans to privately held middle-market companies, with a particular emphasis on the cannabis sector. The company operates as a business development company under the Investment Company Act of 1940.
In its latest earnings report, Chicago Atlantic BDC, Inc. announced its financial results for the fourth quarter and full year of 2024. The company reported a total investment income of $12.7 million for the fourth quarter and $21.7 million for the full year. Notably, the company completed a significant acquisition of a loan portfolio from Chicago Atlantic Loan Portfolio, LLC, which led to a name and ticker symbol change.
Key financial highlights include a net investment income of $8.0 million for the fourth quarter, with a net asset value per share of $13.20 as of December 31, 2024. The company also declared a dividend of $0.34 per share for the quarters ending December 31, 2024, and March 31, 2025. Additionally, Chicago Atlantic BDC closed a $100 million senior secured revolving credit facility in early 2025, which is expected to enhance its financial flexibility.
The company’s strategic moves, including the loan portfolio acquisition and the new credit facility, have positioned it for growth in the niche cannabis lending market. The investment portfolio’s fair value stood at $275.2 million, with no loans on non-accrual status, indicating a stable financial position.
Looking ahead, Chicago Atlantic BDC, Inc. aims to leverage its expertise in the cannabis industry and other underserved markets to maximize risk-adjusted returns for its shareholders. The management remains optimistic about the company’s ability to generate attractive yields and continue its growth trajectory in the coming quarters.