Chicago Atlantic eyes $75 million stock sale to pay down revolver

By Devika Patel

Knoxville, Tenn., June 22 – Chicago Atlantic Real Estate Finance, Inc. plans to use the proceeds from two at-the-market sales agreements for $75 million of common stock to fund its loan pipeline, pay down borrowings on its revolving credit facility and for general corporate purposes, according to an 8-K filing with the Securities and Exchange Commission.

Chicago-based Chicago Atlantic is a mortgage REIT utilizing significant real estate, credit and cannabis expertise to originate senior secured loans primarily to state-licensed cannabis operators in limited-license states in the United States.

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