Chicago Atlantic BDC, Inc. reported significant financial growth in its latest quarterly filing, with total investment income reaching $15.1 million for the three months ended September 30, 2025, compared to $3.2 million for the same period in 2024. This increase was primarily driven by a substantial rise in interest income, which surged to $13.8 million from $2.7 million year-over-year. For the nine months ending September 30, 2025, total investment income was $40.1 million, up from $9.0 million in the prior year. The company attributed this growth to the acquisition of a loan portfolio valued at $219.6 million, completed on October 1, 2024, which significantly expanded its investment base.
In terms of profitability, Chicago Atlantic reported a net investment income of approximately $9.5 million for the third quarter of 2025, a notable increase from just $15,000 in the same quarter of the previous year. For the nine-month period, net investment income totaled $24.8 million, compared to $1.5 million in 2024. The company's net asset value per share also saw a slight increase, rising to $13.27 from $13.20 at the end of the previous fiscal year.
Operationally, the company has expanded its portfolio significantly, with total assets increasing to $327.3 million as of September 30, 2025, up from $309.6 million at the end of 2024. The number of shares outstanding remained stable at approximately 22.8 million. The company’s investment strategy continues to focus on the cannabis sector, which constituted 75.5% of its portfolio by fair value, alongside investments in finance, information, and public administration sectors.
The filing also highlighted the company's strategic decision to enter into a revolving credit agreement, allowing for up to $100 million in borrowing capacity. As of September 30, 2025, the company had $11 million drawn against this facility, which is expected to enhance its liquidity and support further investment opportunities. Looking ahead, Chicago Atlantic remains optimistic about its growth trajectory, emphasizing its commitment to maximizing risk-adjusted returns for shareholders while navigating the complexities of the cannabis investment landscape.
About Chicago Atlantic BDC, Inc.
Chicago Atlantic BDC, Inc. is a specialty finance company investing primarily in debt and equity in highly regulated, complex industries, notably the cannabis sector. It provides secured and unsecured loans, equity, and warrants to private companies, focusing on lower middle-market businesses needing growth, refinancing, or strategic liquidity solutions. The firm leverages industry expertise, strong origination networks, and conservative capital structures to generate risk-adjusted returns.
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