CHICAGO, May 12, 2022 (World NEWSWIRE) — Chicago Atlantic Authentic Estate Finance, Inc. (NASDAQ: REFI) (“Chicago Atlantic” or the “Company”), a commercial serious estate finance firm, currently introduced that Chicago Atlantic Lincoln, LLC (“Chicago Atlantic Lincoln”), its wholly-owned funding subsidiary, entered into an Amended and Restated Personal loan and Protection Agreement by and between Chicago Atlantic Lincoln and two FDIC-insured fiscal establishments related to upsizing its secured revolving credit history facility (the “Revolving Loan”).
The Revolving Loan’s mixture commitment was elevated from $45. million to $65. million with a maturity day of December 16, 2023, and a one-yr extension option, subject matter to customary problems.
The Revolving Mortgage bears desire at a floating rate, centered on Chicago Atlantic Lincoln’s leverage ratio, ranging from % to 1.25% around the Primary Rate, issue to a 3.25% Primary Level flooring. The Business expects to use the obtainable borrowing base from the Revolving Loan to fund further financial loans and for typical corporate purposes.
John Mazarakis, Govt Chairman of Chicago Atlantic, famous, “We are pleased to do the job with our lending team to maximize our revolving credit rating facility to $65 million and assistance our continued advancement.”
About Chicago Atlantic True Estate Finance, Inc.
Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) is a marketplace-major home finance loan REIT employing sizeable real estate, credit history and hashish abilities to originate senior secured loans generally to condition-licensed hashish operators in confined-license states in the United States.
This release incorporates ahead-hunting statements inside of the meaning of the Non-public Securities Litigation Reform Act of 1995 that reflect our current views and projections with regard to, among the other things, long run occasions and economic performance. Text this sort of as “believes,” “expects,” “will,” “intends,” “plans,” “guidance,” “estimates,” “projects,” “anticipates,” and “future” or very similar expressions are intended to recognize forward-hunting statements. These ahead-wanting statements, like statements about our long run growth and approaches for this sort of growth, are issue to the inherent uncertainties in predicting long run final results and problems and are not assures of long run efficiency, problems or effects. Far more information on these threats and other opportunity aspects that could have an impact on our small business and economical benefits is integrated in our filings with the SEC. New risks and uncertainties arise over time, and it is not possible to forecast people occasions or how they may possibly have an effect on us. We do not undertake any obligation to publicly update or revise any ahead-seeking statements, no matter whether as a end result of new facts, long run functions or otherwise, other than as required by legislation.
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