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Dec 31, 2023
Chicago Atlantic Q4 2023 Earnings Report
Announced results for the fourth quarter and year ended December 31, 2023.
Key Takeaways
Chicago Atlantic announced its Q4 2023 financial results, highlighting improved regulatory landscape and new investment opportunities. The company also extended its credit facility until June 2026 and promoted Peter Sack to Co-Chief Executive Officer and Phil Silverman to Chief Financial Officer.
The regulatory landscape has improved, leading to new investment opportunities.
Debt maturities among larger cannabis operators are beginning to occur.
Gross loan originations increased, and the weighted average yield to maturity rose to 19.4%.
The credit facility was extended until June 2026, with an increase in the accordion feature up to $150 million.
Forward Guidance
Chicago Atlantic offered the outlook for full year 2024, which does not include additional adjustments to the Prime rate subsequent to the date hereof or the impact of any unscheduled loan principal repayments.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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