Silver Spike Investment Earlier, Announced Agreement to Acquire Loan Portfolio From Chicago Atlantic; Terms Not Disclosed

Author: Charles Gross | February 20, 2024 08:47am

Silver Spike Investment Corp. (the "Company") (NASDAQ:SSIC), a specialty finance company that has elected to be treated as a business development company, today announced that it entered into a definitive agreement with Chicago Atlantic Loan Portfolio, LLC ("CALP") for the purchase (the "Loan Portfolio Acquisition") from CALP of a sizeable portfolio of loans (the "CALP Loan Portfolio"). 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, each determined shortly before closing. The Loan Portfolio Acquisition is consistent with the Company's new, broadened investment strategy, separately announced today.

Posted In: REFI SSIC