Silver Spike Investment Agrees To Purchase Loan Portfolio From Chicago Atlantic

(RTTNews) - Silver Spike Investment Corp. (SSIC) Tuesday announced that it has entered into a definitive agreement with Chicago Atlantic Loan Portfolio, LLC for the purchase from CALP of a sizeable portfolio of loans.

As per the agreement, the Company will acquire the CALP Loan Portfolio in exchange for newly issued shares of the Company's common stock with a net asset value equal to the value of the CALP Loan Portfolio.

The specialty finance company expects the closing of the Loan Portfolio Acquisition by mid-2024.

Upon the closing of the Loan Portfolio Acquisition, CALP is expected to own the majority of the Company's common stock.

Separately, Silver Spike Capital, LLC, the investment adviser of the Company, announced that it separately entered into a definitive agreement with Chicago Atlantic BDC Holdings, LLC the investment adviser of CALP. Subsequently, a joint venture between Chicago Atlantic and SSC would be created to combine and jointly operate SSC's, and a portion of Chicago Atlantic's, investment management businesses.