UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Securities Exchange Act of 1934
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Item 1.01 Entry into a Material Definitive Agreement.
On February 28, 2024, Chicago Atlantic Lincoln, LLC (“CAL”), a Delaware limited liability company and a wholly-owned financing subsidiary of Chicago Atlantic Real Estate Finance, Inc. (the “Company”), entered into the Fifth Amended and Restated Loan and Security Agreement (the “Fifth Amended and Restated LSA”) by and among CAL and other borrowers from time to time party thereto, as the borrower (the “Borrowers”), and the various financial institutions party thereto, as lenders (the “Lenders”) related to a secured revolving credit facility (the “Revolving Loan”).
The Fifth Amended and Restated LSA amends and restates the Fourth Amended and Restated Loan and Security Agreement, dated June 30, 2023 (the “Fourth Amended and Restated LSA”), to extend the contractual maturity date from December 16, 2024 to June 30, 2026, and increase the accordion feature of the Revolving Loan to permit aggregate loan commitments of up to $150 million. The Company also retained its option to extend the term of the Revolving Loan for an additional one-year period, provided no events of default exist and the Company provides 365 days’ notice of the extension pursuant to the Fifth Amended and Restated LSA. No other material terms of the Fourth Amended and Restated LSA were modified as a result of the execution of the Fifth Amended and Restated LSA.
On February 29, 2024, the Company issued a press release announcing the closing of the Fifth Amended and Restated LSA. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of Registrant.
The information contained in Item 1.01 to this Current Report on Form 8-K is by this reference incorporated in this Item 2.03.
Item 9.01 Financial Statements and Exhibits.
d) Exhibits.
| Exhibit Number |
Description | |
| 99.1 | Press release, dated February 29, 2024. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
| CHICAGO ATLANTIC REAL ESTATE FINANCE, INC. | |||
| Date: February 29, 2024 | By: | /s/ Anthony Cappell | |
| Name: | Anthony Cappell | ||
| Title: | Chief Executive Officer | ||
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