Chicago Atlantic Announces Proposed Initial Public Offering

CHICAGO, Nov. 29, 2021 (GLOBE NEWSWIRE) — Chicago Atlantic Real Estate Finance, Inc. (“Chicago Atlantic”), a commercial real estate finance company that intends to elect and qualify to be taxed as a REIT under Section 856 of the Internal Revenue Code of 1986, today announced the filing of a registration statement on Form S-11 related to an initial public offering of 6,250,000 shares of its common stock. The price range for this offering is currently $16.00 to $18.00 per share of common stock. Chicago Atlantic has applied to have its common stock approved for listing on the NASDAQ Global Market under the symbol “REFI.” In connection with this offering, Chicago Atlantic is expected to grant the underwriters a 30-day option to purchase up to an additional 937,500 shares of its common stock. The completion of the proposed offering depends upon several factors, including market and other conditions.

Chicago Atlantic is managed by Chicago Atlantic REIT Manager, LLC. Chicago Atlantic’s primary investment objective is to provide attractive, risk-adjusted returns for stockholders over time primarily through consistent current income dividends and other distributions and secondarily through capital appreciation. Chicago Atlantic intends to achieve this objective by originating, structuring and investing primarily in first mortgage loans to state-licensed operators in the cannabis industry, secured by real estate, equipment, receivables, licenses or other assets of the borrowers.

Chicago Atlantic intends to use the net proceeds of this offering to make investments in accordance with its investment objective and strategies and for general corporate purposes.

JMP Securities LLC, Compass Point Research & Trading, LLC and Oppenheimer & Co. Inc. are acting as joint book-running managers for this offering. Lake Street Capital Markets LLC and East West Markets, LLC are acting as co-managers for this offering.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (the “SEC”) but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. Offers of these securities are made only by means of the preliminary prospectus. The SEC has not approved or disapproved these securities or passed upon the adequacy of the preliminary prospectus. Any representation to the contrary is a criminal offense. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Investors are advised to carefully consider the investment objectives, risks and charges and expenses of Chicago Atlantic before investing. The preliminary prospectus, dated November 29, 2021, contains this and other information about Chicago Atlantic and should be read carefully before investing. The information in the registration statement, preliminary prospectus and herein is not complete and may be changed.

The offering of these securities will be made only by means of a preliminary prospectus forming a part of the registration statement, copies of which may be obtained, when available, from: JMP Securities LLC, Attention: Prospectus Department, 600 Montgomery Street, Suite 1100, San Francisco, CA 94111, or by email at [email protected]; Compass Point Research & Trading, LLC, Attention: Equity Syndicate, 1055 Thomas Jefferson Street, NW, Suite 303, Washington, DC 20007, or by email at [email protected]; and, Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, NY 10004, or by email at [email protected].

About Chicago Atlantic Real Estate Finance, Inc.

Chicago Atlantic Real Estate Finance, Inc. (“Chicago Atlantic”) is a commercial real estate finance company that invests primarily in first mortgage loans to state-licensed operators in the cannabis industry, secured by real estate, equipment, receivables, licenses or other assets of the borrowers. Chicago Atlantic intends to elect and qualify to be taxed as a REIT. Chicago Atlantic is managed by Chicago Atlantic REIT Manager, LLC.

Forward-Looking Statements

Certain information contained herein may constitute “forward-looking statements” that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about Chicago Atlantic, its current and prospective portfolio investments, its industry, its beliefs and opinions, and its assumptions. Words such as “anticipates,” “expects,” “intends,” “plans,” “will,” “may,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “should,” “targets,” “projects,” “outlook,” “potential,” “predicts” and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond Chicago Atlantic’s control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements including, without limitation, the risks, uncertainties and other factors identified in Chicago Atlantic’s filings with the SEC. Investors should not place undue reliance on these forward-looking statements, which apply only as of the date on which Chicago Atlantic makes them. Neither Chicago Atlantic nor the underwriters undertake any obligation to update or revise any forward-looking statements or any other information contained herein, except as required by applicable law.

Contact:

Andreas Bodmeier
312-809-7002
[email protected]

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