Chicago Atlantic BDC, Inc. (LIEN) Form 8-K — Aug 13, 2026
Chicago Atlantic BDC (Nasdaq: LIEN) reported second quarter 2026 results with total investment income of $14.0 million ($0.61 per share) and net investment income of $7.7 million ($0.34 per share), down from $16.7 million and $10.0 million respectively in the first quarter. NAV per share slipped to $13.26 from $13.33, and management attributed the portfolio decline to repayments and amortization rather than credit deterioration, with zero loans on non-accrual status. The portfolio stood at $334.8 million across 37 companies with a 16.0% weighted average yield on debt investments and debt-to-equity of just 0.09x, leaving $73.9 million of liquidity against a roughly $1.1 billion pipeline.
Key figures
- Eps
- $0.34 net investment income per share (vs $0.44 in Q1 2026); $0.27 net increase in net assets resulting from operations per share
- Revenue
- $14.0 million total investment income for Q2 2026 (vs $16.7 million in Q1 2026)
- Guidance
- No formal guidance; management cited an approximately $1.1 billion pipeline and noted several anticipated fundings shifted into Q3 2026 due to transaction timing
- Net Income
- $6.1 million net increase in net assets resulting from operations (vs $8.5 million in Q1 2026)
- Total Debt
- $27.0 million outstanding borrowings (vs $54.5 million at March 31, 2026)
- Total Assets
- $344.0 million (vs $373.1 million at March 31, 2026)
- Cash Position
- $0.9 million cash and $73.9 million total liquidity as of June 30, 2026 (approximately $47.2 million liquidity as of August 12, 2026)
- Shares Outstanding
- 22820590
- Q2 fundings
- $2.7 million (one investment) vs $93.9 million in Q1 2026
- Nav per share
- $13.26 (vs $13.33 at March 31, 2026)
- Q2 repayments
- $26.7 million repaid in full (three positions) plus $5.5 million amortization
- Q3 2026 dividend
- $0.34 per share, payable October 9, 2026, record date September 25, 2026 (~$7.8 million total)
- Total net assets
- $302.5 million
- Shelf registration
- up to $500 million of securities (filed May 11, 2026)
- Subsequent funding
- $25.0 million funded to a new portfolio company after quarter end
- Debt to equity ratio
- 0.09x (vs 0.18x prior quarter)
- Portfolio fair value
- $334.8 million across 37 portfolio companies
- Senior credit facility
- $100.0 million facility; $53.5 million outstanding as of August 12, 2026
- Net unrealized losses q2
- $1.6 million
- Combined company portfolio
- $771mm+
- Non accruals pct of portfolio
- 0.0%
- Merger proforma refi ownership
- approximately 50.5% (based on March 31, 2026 NAVs)
- Weighted avg yield on debt investments
- 16.0% (vs 15.8% prior quarter)
Price after filing
Close on the filing date to close N calendar days later (from $9.78). Historical, not a forecast.
AI analysis
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