• Chicago Atlantic Real Estate Finance will merge into Chicago Atlantic BDC in an all-stock deal, leaving Chicago Atlantic BDC as the surviving Nasdaq-listed company under “LIEN.”
• Exchange ratio set by adjusted NAV per share shortly before closing; based on March 31, 2026 NAVs, REFI holders would own about 50.5% post-close.
• Combined company projected to have pro forma NAV of $613 million, portfolio of $771 million, aiming for greater scale and broader lending opportunities.
• Closing targeted for Q4 2026, subject to shareholder approvals, regulatory clearances, lender consents, and customary conditions.
• LIEN board to consider a stock repurchase program of up to $25 million following completion, depending on market conditions.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Chicago Atlantic Real Estate Finance Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001213900-26-069861), on June 18, 2026, and is solely responsible for the information contained therein.