{"id":994687,"date":"2026-08-13T07:10:54","date_gmt":"2026-08-13T11:10:54","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\/"},"modified":"2026-08-13T07:10:54","modified_gmt":"2026-08-13T11:10:54","slug":"chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\/","title":{"rendered":"Chicago Atlantic BDC, Inc. Reports Second Quarter 2026 Financial Results"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">NEW YORK, Aug.  13, 2026  (GLOBE NEWSWIRE) &#8212; Chicago Atlantic BDC, Inc. (\u201cLIEN\u201d or the \u201cCompany\u201d) (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, 2026.<\/p>\n<p>\n        <strong>Operating Highlights<\/strong>\n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"12\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>For the Three Months Ended<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle\">\n            <strong>(Dollar amounts in millions, except per share data)*<\/strong>\n          <\/td>\n<td colspan=\"6\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>June 30, 2026<\/strong>\n          <\/td>\n<td colspan=\"6\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>March 31, 2026<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:48%;width:48%;min-width:48%;border-top: solid black 1pt;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"3\" style=\"max-width:13%;width:13%;min-width:13%;border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong><br \/>\n              <u>Total Amount<\/u><br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"max-width:13%;width:13%;min-width:13%;border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong><br \/>\n              <u>Per Share<\/u><br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"max-width:13%;width:13%;min-width:13%;border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong><br \/>\n              <u>Total Amount<\/u><br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"max-width:13%;width:13%;min-width:13%;border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong><br \/>\n              <u>Per Share<\/u><br \/>\n            <\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:48%;min-width:48%;vertical-align: middle\">Total investment income<\/td>\n<td colspan=\"3\" style=\"max-width:13%;min-width:13%;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">$14.0<\/td>\n<td colspan=\"3\" style=\"max-width:13%;min-width:13%;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">$0.61<\/td>\n<td colspan=\"3\" style=\"max-width:1%;min-width:1%;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">$16.7<\/td>\n<td colspan=\"3\" style=\"max-width:1%;min-width:1%;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">$0.73<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:48%;min-width:48%;vertical-align: middle\">Net investment income<\/td>\n<td colspan=\"3\" style=\"max-width:13%;min-width:13%;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">$7.7<\/td>\n<td colspan=\"3\" style=\"max-width:13%;min-width:13%;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">$0.34<\/td>\n<td colspan=\"3\" style=\"max-width:1%;min-width:1%;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">$10.0<\/td>\n<td colspan=\"3\" style=\"max-width:1%;min-width:1%;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">$0.44<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle\">Net change in unrealized gains (losses)<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">$(1.6)<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">$(0.07)<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">$(1.4)<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">$(0.06)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle\">Net increase in net assets resulting from operations<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">$6.1<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">$0.27<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">$8.5<\/td>\n<td colspan=\"3\" style=\"padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">$0.37<\/td>\n<\/tr>\n<\/table>\n<p>\n        <br \/>\n        <sup>*totals may not foot due to rounding.<\/sup>\n      <\/p>\n<p align=\"justify\">Peter Sack, Chief Executive Officer of the Company, commented, \u201cThe second quarter reflected the continued strength of our portfolio and disciplined underwriting approach. The decline in portfolio fair value was driven primarily by repayments and amortization activity rather than credit deterioration or valuation markdowns. With no investments on non-accrual status, steady portfolio risk ratings, and a 100% senior secured debt portfolio generating a weighted average yield on debt investments of 16.0%, we remain positioned to generate attractive risk-adjusted returns.\u201d<\/p>\n<p align=\"justify\">Mr. Sack continued, \u201cWe ended the quarter with $73.9 million in available liquidity and a pipeline of approximately $1.1 billion. Several anticipated fundings shifted into the third quarter due to transaction timing, and we continue to see strong borrower demand and a healthy pipeline of opportunities, giving us confidence in our deployment outlook.\u201d<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"width:74.0718%;vertical-align: middle\">\n            <strong>Balance Sheet Highlights<\/p>\n<p><\/strong>\n          <\/td>\n<td colspan=\"6\" style=\"width:51.7915%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <br \/>\n            <strong>As of<\/strong><br \/>\n            \n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:74.0718%;border-bottom: solid black 1pt;vertical-align: middle\">\n            <strong>(Dollar amounts in millions, except per share data)<\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"width:12.9397%;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>June 30, 2026<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"width:38.8518%;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>March 31, 2026<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:74%;width:74.0718%;min-width:74%;border-top: solid black 1pt;vertical-align: middle\">Total assets<\/td>\n<td colspan=\"3\" style=\"max-width:1%;width:12.9397%;min-width:1%;border-top: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">$344.0<\/td>\n<td colspan=\"3\" style=\"max-width:1%;width:38.8518%;min-width:1%;border-top: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">$373.1<\/td>\n<\/tr>\n<tr>\n<td style=\"width:74.0718%;vertical-align: middle\">Total net assets<\/td>\n<td colspan=\"3\" style=\"width:12.9397%;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">$302.5<\/td>\n<td colspan=\"3\" style=\"width:38.8518%;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">$304.2<\/td>\n<\/tr>\n<tr>\n<td style=\"width:74.0718%;vertical-align: middle\">Net asset value per share<\/td>\n<td colspan=\"3\" style=\"width:12.9397%;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">$13.26<\/td>\n<td colspan=\"3\" style=\"width:38.8518%;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">$13.33<\/td>\n<\/tr>\n<tr>\n<td style=\"width:74.0718%;vertical-align: middle\">Outstanding borrowings<\/td>\n<td colspan=\"3\" style=\"width:12.9397%;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">$27.0<\/td>\n<td colspan=\"3\" style=\"width:38.8518%;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">$54.5<\/td>\n<\/tr>\n<tr>\n<td style=\"width:74.0718%;vertical-align: middle\">Debt-to-equity ratio<\/td>\n<td colspan=\"3\" style=\"width:12.9397%;text-align: center;vertical-align: middle;vertical-align: middle\">0.09x<\/td>\n<td colspan=\"3\" style=\"width:38.8518%;text-align: center;vertical-align: middle;vertical-align: middle\">0.18x<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong><br \/>\n          <br \/>Portfolio Activity<\/strong>\n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"width:74.0099%;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"6\" style=\"width:51.635%;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>For the Three Months Ended<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:74.0099%;border-bottom: solid black 1pt;vertical-align: middle\">\n            <strong>(Dollar amounts in millions)<\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"width:12.8305%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>June 30, 2026<\/strong>\n          <\/td>\n<td colspan=\"3\" style=\"width:38.8045%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">\n            <strong>March 31, 2026<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:74.0099%;border-top: solid black 1pt;vertical-align: middle\">Investment fundings (portfolio companies \/ principal)<\/td>\n<td colspan=\"3\" style=\"width:12.8305%;border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">1 \/ $2.7<\/td>\n<td colspan=\"3\" style=\"width:38.8045%;border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: middle\">7 \/ $93.9<\/td>\n<\/tr>\n<tr>\n<td style=\"width:74.0099%;vertical-align: middle\">Repayments \/ amortization \/ refinancing<\/td>\n<td colspan=\"3\" style=\"width:12.8305%;text-align: center;vertical-align: middle;vertical-align: middle\">$26.7 \/ $5.5 \/ $0.0<\/td>\n<td colspan=\"3\" style=\"width:38.8045%;text-align: center;vertical-align: middle;vertical-align: middle\">$13.7 \/ $7.6 \/ $42.1<\/td>\n<\/tr>\n<tr>\n<td style=\"width:74.0099%;vertical-align: middle\">\n            <em>Portfolio Information:<\/em>\n          <\/td>\n<td colspan=\"3\" style=\"width:12.8305%;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"3\" style=\"width:38.8045%;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:74%;width:74.0099%;min-width:74%;vertical-align: middle\">Total investment portfolio at fair value<\/td>\n<td colspan=\"3\" style=\"max-width:1%;width:12.8305%;min-width:1%;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">$334.8<\/td>\n<td colspan=\"3\" style=\"max-width:1%;width:38.8045%;min-width:1%;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">$364.0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:74.0099%;vertical-align: middle\">Number of portfolio companies<\/td>\n<td colspan=\"3\" style=\"width:12.8305%;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">37<\/td>\n<td colspan=\"3\" style=\"width:38.8045%;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">40<\/td>\n<\/tr>\n<tr>\n<td style=\"width:74.0099%;vertical-align: middle\">Weighted average yield on debt investments<\/td>\n<td colspan=\"3\" style=\"width:12.8305%;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">16.0%<\/td>\n<td colspan=\"3\" style=\"width:38.8045%;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">15.8%<\/td>\n<\/tr>\n<tr>\n<td style=\"width:74.0099%;vertical-align: middle\">Loans on non-accrual status (% of portfolio at fair value)<\/td>\n<td colspan=\"3\" style=\"width:12.8305%;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">0.0%<\/td>\n<td colspan=\"3\" style=\"width:38.8045%;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: middle\">0.0%<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">\n        <br \/>As of June 30, 2026, the Company\u2019s investment portfolio had an aggregate fair value of approximately $334.8 million across 37 portfolio companies. During the quarter ended June 30, 2026, the Company funded one new debt investment to an existing portfolio company with an aggregate value of $2.7 million. Three positions were repaid in full during the quarter ended June 30, 2026, representing $26.7 million. The Company also received scheduled and unscheduled amortization payments totaling $5.5 million.<\/p>\n<p align=\"justify\">Subsequent to quarter end, one position of $25.0 million was funded to a new portfolio company. As of June 30, 2026, there were no loans on non-accrual status.<\/p>\n<p align=\"justify\">\n        <strong>Liquidity and Capital Resources<\/strong>\n      <\/p>\n<p align=\"justify\">As of June 30, 2026, the Company had $73.9 million of liquidity, including $0.9 million of cash and $73.0 million of borrowings available to be drawn on its $100.0 million senior credit facility, which is subject to certain borrowing base requirements and other restrictions. As of August 12, 2026, the Company had $53.5 million outstanding on its senior credit facility and approximately $47.2 million of liquidity.<\/p>\n<p align=\"justify\">On May 11, 2026, the Company filed a shelf registration statement with the Securities and Exchange Commission (the \u201cSEC\u201d), which once declared effective, will allow the Company to issue up to $500 million of securities, including debt securities. The shelf registration is intended to provide the Company with enhanced financial flexibility to efficiently access the capital markets to grow the Company\u2019s portfolio.<\/p>\n<p align=\"justify\">\n        <strong>Dividend<\/strong>\n      <\/p>\n<p align=\"justify\">On August 10, 2026, the Company&#8217;s Board of Directors declared a third quarter 2026 dividend of $0.34 per share, payable on October 9, 2026, with a record date of September 25, 2026, for a total of approximately $7.8 million. The second quarter 2026 dividend of $0.34 per share was paid on July 10, 2026, to shareholders of record as of June 26, 2026, and was the seventh consecutive dividend at that rate.<\/p>\n<p align=\"justify\">\n        <strong>Recent Developments<\/strong>\n      <\/p>\n<p align=\"justify\">On June 17, 2026, the Company entered into an Agreement and Plan of Merger (the \u201cMerger Agreement\u201d) with Chicago Atlantic Real Estate Finance, Inc. (&#8220;REFI&#8221;) (NASDAQ: REFI), an affiliated company that has elected to be taxed as a real estate investment trust and is externally managed by an affiliate of the Company&#8217;s investment adviser, pursuant to which REFI will merge with and into the Company, with the Company continuing as the surviving company (the &#8220;Merger&#8221;). Prior to the Merger, REFI will elect to be regulated as a business development company under the Investment Company Act of 1940, as amended (the \u201c1940 Act\u201d). At closing, REFI\u2019s stockholders will receive a number of shares of the Company&#8217;s common stock determined based on the ratio (the \u201cExchange Ratio\u201d) of REFI&#8217;s net asset value (&#8220;NAV&#8221;) per share, as adjusted in accordance with the Merger Agreement, to the Company&#8217;s NAV per share, similarly adjusted, in each case as determined shortly prior to closing. Based on the respective NAVs of REFI and the Company as of March 31, 2026, and without giving effect to any other changes in the inputs to the Exchange Ratio occurring after March 31, 2026, former REFI stockholders would be expected to own approximately 50.5% of the Company immediately following the Merger. The actual pro forma ownership percentage will depend on the Exchange Ratio calculated shortly prior to closing and may differ from the March 31, 2026 estimate. Completion of the Merger is subject to the approval of stockholders of both the Company and REFI, including approval by REFI\u2019s stockholders of REFI&#8217;s election to be regulated as a business development company under the 1940 Act and approval by REFI\u2019s stockholders of an investment advisory agreement, as well as regulatory approvals, third-party consents and other customary closing conditions. Assuming these conditions are satisfied, the Merger is expected to close in the fourth quarter of 2026. There can be no assurance that the Merger will be completed on the anticipated terms or timing, or at all. Additional information regarding the Merger is set forth below under \u201cAdditional Information and Where to Find It.\u201d<\/p>\n<p align=\"justify\">\n        <strong>Live Conference Call and Webcast<\/strong>\n      <\/p>\n<p align=\"justify\">The Company will host a conference call and live audio webcast, both open for the general public to hear, to discuss the Company&#8217;s second quarter 2026 financial results at 9:00 a.m. ET on Thursday, August 13, 2026. The number to access the conference call is 833-630-1956 (international callers: 412-317-1837). The live audio webcast of the call will also be available at the following link <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=q4C86sj0QofHbc3ZupXrejw715x5ipFphZdlkS_elHPNTeG4jvf96PEIEtsyz-oBsRPWkjSJYAMCTPalgUgQmUgnmNGKgLJmyLUqDAJ3ZOcgmt-VE7UHakJfl-t3CU_0sjlU6DXTna2TOO2uaOH9Iy8Amt4tyRrWjhtAhkCBMDo=\" rel=\"nofollow\" target=\"_blank\"><strong>https:\/\/edge.media-server.com\/mmc\/p\/a3rmvk74<\/strong><\/a>.<\/p>\n<p align=\"justify\">A replay of the call will be available at investors.chicagoatlanticbdc.com by the end of day on August 13, 2026.<\/p>\n<p align=\"justify\">\n        <strong>About Chicago Atlantic BDC, Inc.<\/strong>\n      <\/p>\n<p align=\"justify\">The Company is a specialty finance company that has elected to be regulated as a business development company under the 1940 Act, as amended, and has elected to be treated as a regulated investment company for U.S. federal income tax purposes. The Company\u2019s 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 (the \u201cAdviser\u201d), an investment manager focused on the cannabis industry and other niche or underfollowed sectors. For more information, please visit chicagoatlanticbdc.com.<\/p>\n<p align=\"justify\">\n        <strong>Forward-Looking Statements<\/strong>\n      <\/p>\n<p align=\"justify\">This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the Company\u2019s current views and projections with respect to, among other things, future events and financial performance, including statements regarding the proposed Merger with REFI and its expected timing and effects, the expected pro forma ownership of former REFI stockholders in LIEN following the Merger, the expected implementation and effects of federal rescheduling of medical cannabis, the Company\u2019s dividend expectations, and the Company\u2019s future operations and strategies. Words such as \u201cbelieves,\u201d \u201cexpects,\u201d \u201cwill,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201cguidance,\u201d \u201cestimates,\u201d \u201cprojects,\u201d \u201canticipates,\u201d \u201cfuture\u201d and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to numerous risks and uncertainties, including, without limitation: (i) the risk that the proposed Merger may not be completed on the anticipated terms or timing, or at all; (ii) the failure to obtain the required stockholder approvals of REFI or LIEN, including approval of REFI\u2019s election to be regulated as a business development company and approval of REFI\u2019s investment advisory agreement; (iii) the failure to satisfy other conditions to closing, including regulatory approvals and third-party consents; (iv) the effect of the announcement or pendency of the Merger on the Company\u2019s business, operating results, and relationships with borrowers, employees and other counterparties; (v) risks that the Merger may divert management\u2019s attention from the Company\u2019s ongoing business; (vi) the outcome of any legal proceedings that may be instituted against REFI or LIEN related to the Merger; (vii) the amount of costs, fees and expenses related to the Merger; (viii) developments in the cannabis industry, including federal, state and local legal and regulatory changes and the implementation of federal rescheduling; (ix) changes in interest rates, credit spreads and macroeconomic conditions; and (x) the other risks identified in the Company\u2019s filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2025 and subsequent Quarterly Reports on Form 10-Q, and in the registration statement on Form N-14 filed by LIEN with the SEC on July 31, 2026, including the joint proxy statement\/prospectus contained therein. New risks and uncertainties arise over time, and it is not possible to predict those events or how they may affect us. We do not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.<\/p>\n<p>\n        <strong>No Offer or Solicitation<\/strong>\n      <\/p>\n<p align=\"justify\">This press release is not intended to and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the \u201cSecurities Act\u201d), or in a transaction exempt from the registration requirements of the Securities Act.<\/p>\n<p align=\"justify\">\n        <strong>Additional Information and Where to Find It<\/strong>\n      <\/p>\n<p align=\"justify\">This communication includes information relating to the Merger of REFI with and into the Company, along with related proposals for which stockholder approval will be sought, pursuant to the Merger Agreement. The Merger Agreement was unanimously approved by the Boards of Directors of both the Company and REFI, each acting on the unanimous recommendation of its special committee of independent directors (each, a \u201cSpecial Committee\u201d). In connection with the proposals, on July 31, 2026, the Company filed relevant materials with the SEC, including a registration statement on Form N-14, which has not yet been declared effective, which includes a joint proxy statement of the Company and REFI and a prospectus of the Company (the \u201cProxy Statement\/Prospectus\u201d). This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act. STOCKHOLDERS OF THE COMPANY AND REFI ARE URGED TO READ THE PROXY STATEMENT\/PROSPECTUS, AND OTHER DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, REFI, THE MERGER AND THE PROPOSALS. Investors and security holders will be able to obtain the documents filed with the SEC free of charge at the SEC\u2019s website, www.sec.gov, or from each company\u2019s investor relations website at www.investors.chicagoatlanticbdc.com (the Company) and www.investors.refi.reit (REFI), or by directing a request to LIEN@chicagoatlantic.com (the Company) or IR@REFI.reit (REFI).<\/p>\n<p align=\"justify\">\n        <strong>Participants in the Solicitation <\/strong>\n      <\/p>\n<p align=\"justify\">The Company, REFI, the Adviser, Chicago Atlantic REIT Manager, LLC, the external manager of REFI, and their respective directors, officers, members, managers, partners, employees and affiliates, and other persons may be deemed to be participants in the solicitation of proxies from the stockholders of the Company and REFI in connection with the Merger and the related proposals. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the stockholders of the Company and REFI in connection with the Merger and the related proposals, including a description of their direct or indirect interests, by security holdings or otherwise, will be included in the Proxy Statement\/Prospectus and other relevant materials to be filed with the SEC when they become available. Additional information regarding the ownership of securities of the Company and REFI by their respective directors and executive officers is included in their SEC filings on Forms 3, 4 and 5, which can be found through the SEC\u2019s website at www.sec.gov. Information about the directors and executive officers of the Company is set forth in the Company\u2019s proxy statement for its 2026 annual meeting of stockholders, filed with the SEC on April 30, 2026, and in LIEN\u2019s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on March 19, 2026. Information about the directors and executive officers of REFI is set forth in REFI\u2019s proxy statement for its 2026 annual meeting of stockholders, filed with the SEC on April 23, 2026, and in REFI\u2019s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on March 12, 2026. Each of these documents is available free of charge at the SEC\u2019s website, www.sec.gov, or from the Company\u2019s or REFI\u2019s investor relations website, as applicable.<\/p>\n<p align=\"justify\">\n        <strong>Contact<\/strong>\n      <\/p>\n<p>Tripp Sullivan<br \/>Lisa Kampf<br \/>SCR Partners<br \/>LIEN@chicagoatlantic.com<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"9\" style=\"text-align: center;vertical-align: middle\">\n            <strong>CHICAGO ATLANTIC BDC, INC.<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\" style=\"text-align: center;vertical-align: middle\">\n            <strong>Statements of Assets and Liabilities<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"8\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>June\u00a030, 2026<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>March 31, 2026<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>(Unaudited)<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>(Unaudited)<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>ASSETS<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Investments at fair value:<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:72%;width:72%;min-width:72%;vertical-align: bottom\">Non-controlled\/non-affiliate investments<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">334,833,992<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">346,596,232<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Non-controlled affiliate investments<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">17,370,481<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Total investments at fair value (amortized cost of $336,747,389 and $364,290,996, respectively)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">334,833,992<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">363,966,713<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Interest receivable<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">3,588,157<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">4,358,743<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Prepaid expenses and other assets<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">2,605,281<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,305,750<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Due from affiliates<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">2,008,432<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">152,958<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Cash<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">925,534<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">3,346,316<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Total assets<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">343,961,396<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">373,130,480<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>LIABILITIES<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Revolving line of credit<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">27,000,000<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">54,500,000<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Distributions payable<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">7,759,001<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">7,759,001<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Income-based incentive fees payable<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,920,905<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">2,457,290<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Other payables<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,677,560<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">876,266<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Management fee payable<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,555,022<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,529,360<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Due to affiliates<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,441,236<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,359,256<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Professional fees payable<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">118,133<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">464,846<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Total liabilities<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">41,471,857<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">68,946,019<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>NET ASSETS<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Common stock, $0.01 par value, 100,000,000 shares authorized, 22,820,590 and 22,820,590 shares issued and outstanding, respectively<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">228,206<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">228,206<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Additional paid-in-capital<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">303,079,082<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">303,079,082<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Distributable earnings<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(817,749<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">877,173<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Total net assets<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">302,489,539<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">304,184,461<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>NET ASSET VALUE PER SHARE<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">13.26<\/td>\n<td style=\"border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double black 3pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">13.33<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"center\">\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"9\" style=\"text-align: center;vertical-align: middle\">\n            <strong>CHICAGO ATLANTIC BDC, INC.<br \/><\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\" style=\"text-align: center;vertical-align: middle\">\n            <strong>Statements of Operations<br \/><\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\" style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"7\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>For the Three Months Ended<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>June\u00a030, 2026<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>March 31, 2026<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>INVESTMENT INCOME<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Non-controlled\/non-affiliate investment income<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:72%;width:72%;min-width:72%;vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">Interest income<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">12,333,209<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">13,780,772<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">Fee income<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">659,411<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">2,096,857<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: bottom\">Total investment income from non-controlled\/non-affiliate investments<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">12,992,620<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">15,877,629<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Non-controlled affiliate investment income<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: middle;text-align: left;padding-left: 15.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">Interest income<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">955,512<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">802,644<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">Fee income<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">22,500<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">22,500<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: bottom\">Total investment income from non-controlled affiliate investments<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">978,012<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">825,144<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Total investment income<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">13,970,632<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">16,702,773<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>EXPENSES<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">Income-based incentive fees<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,920,903<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">2,457,289<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">Management fee<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,555,022<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,529,359<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">General and administrative expenses<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,142,752<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,212,784<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">Interest expense<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,000,939<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,024,542<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">Professional fees<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">210,244<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">198,238<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">Audit expense<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">153,750<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">153,750<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">Other expenses<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">145,109<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">146,106<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">Sub-administrator fees<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">115,766<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">133,410<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">Legal expenses<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">72,954<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">45,750<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">Excise tax expense<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">2,730<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">Capital gains incentive fees<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(163,473<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Total expenses<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">6,317,439<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">6,740,485<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>NET INVESTMENT INCOME (LOSS)<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">7,653,193<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">9,962,288<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>NET CHANGE IN UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">Non-controlled non-affiliate investments<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(528,944<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(2,487,070<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">Non-controlled affiliate investments<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(1,060,170<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,060,170<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Net change in unrealized appreciation (depreciation) on investments<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(1,589,114<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(1,426,900<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Net realized and unrealized gains (losses)<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(1,589,114<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(1,426,900<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">6,064,079<\/td>\n<td style=\"border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: double black 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">8,535,388<\/td>\n<td style=\"border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>NET INVESTMENT INCOME (LOSS) PER SHARE &#8211; BASIC AND DILUTED<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">0.34<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">0.44<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS PER SHARE &#8211; BASIC AND DILUTED<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">0.27<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">0.37<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>WEIGHTED AVERAGE SHARES OUTSTANDING &#8211; BASIC AND DILUTED<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">22,820,590<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">22,820,590<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTgwODk4OCM3NzczNTA5IzIyMTAxMDE=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/YmYwYzVkNWUtN2Y2OC00YTVhLTk3YWYtNDcxNzljN2ExOGQ0LTEyMjE2NTQtMjAyNi0wOC0xMy1lbg==\/tiny\/Chicago-Atlantic-BDC-Inc-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK, Aug. 13, 2026 (GLOBE NEWSWIRE) &#8212; Chicago Atlantic BDC, Inc. (\u201cLIEN\u201d or the \u201cCompany\u201d) (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, 2026. Operating Highlights \u00a0 For the Three Months Ended (Dollar amounts in millions, except per share data)* June 30, 2026 March 31, 2026 \u00a0 Total Amount Per Share Total Amount Per Share Total investment income $14.0 $0.61 $16.7 $0.73 Net investment income $7.7 $0.34 $10.0 $0.44 Net change in unrealized gains (losses) $(1.6) $(0.07) $(1.4) $(0.06) Net increase in net assets resulting from operations $6.1 $0.27 $8.5 $0.37 *totals may not foot due to rounding. &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Chicago Atlantic BDC, Inc. Reports Second Quarter 2026 Financial Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-994687","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Chicago Atlantic BDC, Inc. Reports Second Quarter 2026 Financial Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chicago Atlantic BDC, Inc. Reports Second Quarter 2026 Financial Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NEW YORK, Aug. 13, 2026 (GLOBE NEWSWIRE) &#8212; Chicago Atlantic BDC, Inc. (\u201cLIEN\u201d or the \u201cCompany\u201d) (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, 2026. Operating Highlights \u00a0 For the Three Months Ended (Dollar amounts in millions, except per share data)* June 30, 2026 March 31, 2026 \u00a0 Total Amount Per Share Total Amount Per Share Total investment income $14.0 $0.61 $16.7 $0.73 Net investment income $7.7 $0.34 $10.0 $0.44 Net change in unrealized gains (losses) $(1.6) $(0.07) $(1.4) $(0.06) Net increase in net assets resulting from operations $6.1 $0.27 $8.5 $0.37 *totals may not foot due to rounding. &hellip; Continue reading &quot;Chicago Atlantic BDC, Inc. Reports Second Quarter 2026 Financial Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2026-08-13T11:10:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTgwODk4OCM3NzczNTA5IzIyMTAxMDE=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"13 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Chicago Atlantic BDC, Inc. Reports Second Quarter 2026 Financial Results\",\"datePublished\":\"2026-08-13T11:10:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\\\/\"},\"wordCount\":2522,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=OTgwODk4OCM3NzczNTA5IzIyMTAxMDE=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\\\/\",\"name\":\"Chicago Atlantic BDC, Inc. Reports Second Quarter 2026 Financial Results - Market Newsdesk\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=OTgwODk4OCM3NzczNTA5IzIyMTAxMDE=\",\"datePublished\":\"2026-08-13T11:10:54+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=OTgwODk4OCM3NzczNTA5IzIyMTAxMDE=\",\"contentUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=OTgwODk4OCM3NzczNTA5IzIyMTAxMDE=\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Chicago Atlantic BDC, Inc. Reports Second Quarter 2026 Financial Results\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\",\"name\":\"Market Newsdesk\",\"description\":\"Latest Business News in Real Time\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\",\"name\":\"Newsdesk\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"caption\":\"Newsdesk\"},\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/author\\\/newsdesk\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Chicago Atlantic BDC, Inc. Reports Second Quarter 2026 Financial Results - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\/","og_locale":"en_US","og_type":"article","og_title":"Chicago Atlantic BDC, Inc. Reports Second Quarter 2026 Financial Results - Market Newsdesk","og_description":"NEW YORK, Aug. 13, 2026 (GLOBE NEWSWIRE) &#8212; Chicago Atlantic BDC, Inc. (\u201cLIEN\u201d or the \u201cCompany\u201d) (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, 2026. Operating Highlights \u00a0 For the Three Months Ended (Dollar amounts in millions, except per share data)* June 30, 2026 March 31, 2026 \u00a0 Total Amount Per Share Total Amount Per Share Total investment income $14.0 $0.61 $16.7 $0.73 Net investment income $7.7 $0.34 $10.0 $0.44 Net change in unrealized gains (losses) $(1.6) $(0.07) $(1.4) $(0.06) Net increase in net assets resulting from operations $6.1 $0.27 $8.5 $0.37 *totals may not foot due to rounding. &hellip; Continue reading \"Chicago Atlantic BDC, Inc. Reports Second Quarter 2026 Financial Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\/","og_site_name":"Market Newsdesk","article_published_time":"2026-08-13T11:10:54+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTgwODk4OCM3NzczNTA5IzIyMTAxMDE=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"13 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Chicago Atlantic BDC, Inc. Reports Second Quarter 2026 Financial Results","datePublished":"2026-08-13T11:10:54+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\/"},"wordCount":2522,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTgwODk4OCM3NzczNTA5IzIyMTAxMDE=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\/","name":"Chicago Atlantic BDC, Inc. Reports Second Quarter 2026 Financial Results - Market Newsdesk","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\/#primaryimage"},"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTgwODk4OCM3NzczNTA5IzIyMTAxMDE=","datePublished":"2026-08-13T11:10:54+00:00","author":{"@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"breadcrumb":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.marketnewsdesk.com\/index.php\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\/#primaryimage","url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTgwODk4OCM3NzczNTA5IzIyMTAxMDE=","contentUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTgwODk4OCM3NzczNTA5IzIyMTAxMDE="},{"@type":"BreadcrumbList","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/chicago-atlantic-bdc-inc-reports-second-quarter-2026-financial-results\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.marketnewsdesk.com\/"},{"@type":"ListItem","position":2,"name":"Chicago Atlantic BDC, Inc. Reports Second Quarter 2026 Financial Results"}]},{"@type":"WebSite","@id":"https:\/\/www.marketnewsdesk.com\/#website","url":"https:\/\/www.marketnewsdesk.com\/","name":"Market Newsdesk","description":"Latest Business News in Real Time","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.marketnewsdesk.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979","name":"Newsdesk","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","caption":"Newsdesk"},"url":"https:\/\/www.marketnewsdesk.com\/index.php\/author\/newsdesk\/"}]}},"_links":{"self":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/994687","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/comments?post=994687"}],"version-history":[{"count":0,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/994687\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/media?parent=994687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/categories?post=994687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/tags?post=994687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}