New York-based Silver Spike Investment Corp. will acquire Chicago Atlantic Real Estate Finance’s loan portfolio and broaden its interests beyond the marijuana and wellness sectors.
According to a Tuesday news release, Silver Spike will acquire the loan portfolio in exchange for newly issued shares of common stock, the value of which will be equal to the value of the loan portfolio.
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As of Jan. 1, Chicago Atlantic’s loan portfolio consisted of 24 loans with a value of approximately $130 million.
Chicago Atlantic agreed to add at least four loans with a combined value of about $43 million before the deal closes, but both companies might agree to add more to the portfolio.
Silver Spike said in the release that expects to have roughly
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