• Chicago Atlantic Real Estate Finance agreed to merge into Chicago Atlantic BDC in an all-stock deal, leaving LIEN as the surviving Nasdaq-listed company.
• REFI will elect to operate as a BDC before closing; the combined company will continue to trade under the LIEN ticker.
• Exchange ratio set by each company’s adjusted NAV per share shortly before closing; March 31, 2026 NAVs imply REFI holders at about 50.5%.
• Companies project pro forma NAV of $613 million with a $771 million investment portfolio, targeting greater scale, diversification, and funding access.
• Closing targeted for Q4 2026, subject to shareholder votes, consents, and customary conditions; LIEN board to consider up to a $25 million buyback post-close.

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 BDC Inc. published the original content used to generate this news brief on June 18, 2026, and is solely responsible for the information contained therein.