CHICAGO, May perhaps 12, 2022 (World NEWSWIRE) — Chicago Atlantic True Estate Finance, Inc. (NASDAQ: REFI) (“Chicago Atlantic” or the “Company”), a industrial real estate finance company, now introduced that Chicago Atlantic Lincoln, LLC (“Chicago Atlantic Lincoln”), its wholly-owned financing subsidiary, entered into an Amended and Restated Bank loan and Security Arrangement by and among Chicago Atlantic Lincoln and two FDIC-insured financial establishments connected to upsizing its secured revolving credit history facility (the “Revolving Loan”).
The Revolving Loan’s combination commitment was amplified from $45. million to $65. million with a maturity day of December 16, 2023, and a just one-yr extension possibility, matter to customary ailments.
The Revolving Financial loan bears fascination at a floating price, centered on Chicago Atlantic Lincoln’s leverage ratio, ranging from % to 1.25% in excess of the Key Price, subject to a 3.25% Prime Fee flooring. The Enterprise expects to use the offered borrowing base from the Revolving Loan to fund added financial loans and for basic corporate needs.
John Mazarakis, Executive Chairman of Chicago Atlantic, famous, “We are delighted to do the job with our lending group to increase our revolving credit rating facility to $65 million and assist our ongoing expansion.”
About Chicago Atlantic Real Estate Finance, Inc.
Chicago Atlantic Actual Estate Finance, Inc. (NASDAQ: REFI) is a sector-major home finance loan REIT utilizing important serious estate, credit and cannabis know-how to originate senior secured financial loans principally to point out-licensed hashish operators in confined-license states in the United States.
This launch incorporates forward-wanting statements within the meaning of the Non-public Securities Litigation Reform Act of 1995 that replicate our recent views and projections with regard to, between other matters, potential occasions and money performance. Phrases this sort of as “believes,” “expects,” “will,” “intends,” “plans,” “guidance,” “estimates,” “projects,” “anticipates,” and “future” or similar expressions are meant to discover ahead-on the lookout statements. These ahead-seeking statements, which include statements about our foreseeable future expansion and approaches for this sort of growth, are matter to the inherent uncertainties in predicting long run benefits and situations and are not assures of foreseeable future performance, disorders or effects. Far more data on these challenges and other possible factors that could impact our enterprise and monetary benefits is bundled in our filings with the SEC. New hazards and uncertainties crop up about time, and it is not attainable to predict those activities or how they may perhaps have an effect on us. We do not undertake any obligation to publicly update or revise any forward-searching statements, regardless of whether as a result of new information, upcoming situations or in any other case, apart from as necessary by legislation.
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