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Eversheds Sutherland is serving as legal counsel to the Special Committee of Independent Directors of Chicago Atlantic BDC, Inc. (NASDAQ: LIEN), a specialty finance company that has elected to be regulated as a business development company (“BDC”), on entering into a definitive merger agreement with Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI), a commercial mortgage real estate investment trust, under which REFI will elect to be regulated as a BDC, and merge with and into LIEN in an all-stock, strategic combination. The materials on the Eversheds Sutherland website are for general information purposes only and do not constitute legal advice. While reasonable care is taken to ensure accuracy, the materials may not reflect the most current legal developments. Eversheds Sutherland disclaims liability for actions taken based on the materials. Always consult a qualified lawyer for specific legal matters. 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Chicago Atlantic BDC to Merge With Fellow Cannabis Lender

June 22, 2026

United States

The Deal reports on the announcement of the definitive merger agreement between Chicago Atlantic Real Estate Finance, Inc. and Chicago Atlantic BDC, Inc.

Eversheds Sutherland is serving as legal counsel to the Special Committee of Independent Directors of Chicago Atlantic BDC, Inc. (NASDAQ: LIEN), a specialty finance company that has elected to be regulated as a business development company (“BDC”), on entering into a definitive merger agreement with Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI), a commercial mortgage real estate investment trust, under which REFI will elect to be regulated as a BDC, and merge with and into LIEN in an all-stock, strategic combination.

The materials on the Eversheds Sutherland website are for general information purposes only and do not constitute legal advice. While reasonable care is taken to ensure accuracy, the materials may not reflect the most current legal developments. Eversheds Sutherland disclaims liability for actions taken based on the materials. Always consult a qualified lawyer for specific legal matters. To view the full disclaimer, see our Terms and Conditions or Disclaimer section in the footer.

Owen J. Pinkerton

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Washington, DC, United States

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© Eversheds Sutherland 2026. All rights reserved. Eversheds Sutherland is a provider of legal and other services operating through various separate and distinct legal entities. For further information about these entities and Eversheds Sutherlands' structure please see the Legal Notice page of this website.

Eversheds Sutherland is the name and brand under which the members of Eversheds Sutherland Limited (Eversheds Sutherland (International) LLP and Eversheds Sutherland (US) LLP) and their respective controlled, managed and affiliated firms and the members of Eversheds Sutherland (Europe) Limited (each an "Eversheds Sutherland Entity" and together the "Eversheds Sutherland Entities") provide legal or other services to clients around the world. Eversheds Sutherland Entities are constituted and regulated in accordance with relevant local regulatory and legal requirements and operate in accordance with their locally registered names. The use of the name Eversheds Sutherland, is for description purposes only and does not imply that the Eversheds Sutherland Entities are in a partnership or are part of a global LLP. The responsibility for the provision of services to the client is defined in the terms of engagement between the instructed firm and the client. For further information about these Eversheds Sutherland Entities and Eversheds Sutherlands’ structure please see the Legal Notices page of this website. For information on Konexo please also see the Legal Notices page of this website

Chicago Atlantic BDC to Merge With Fellow Cannabis Lender

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