Chicago Atlantic Real Estate Finance issues 4,306,754 shares at $14.53 in exchange for $62.5 million Koach second-lien notes - REFI News | RalliesChicago Atlantic Real Estate Finance issues 4,306,754 shares at $14.53 in exchange for $62.5 million Koach second-lien notes
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REFI• Share issuance and note exchange
- Chicago Atlantic Real Estate Finance issued 4,306,754 common shares at $14.53 each to acquire about $62.5 million of second lien notes.
- The notes are secured by 32 cannabis-leased retail properties managed by Koach Properties Manager.
- Terms include 10% cash interest, 2% PIK interest, an exit fee of 2.5x each note’s commitment amount, and a weighted-average maturity near 12 years.
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