Silver Spike Investment announced that it entered into a definitive agreement with Chicago Atlantic Loan Portfolio for the purchase from CALP of a sizeable portfolio of loans. 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. The closing of the Loan Portfolio Acquisition is subject to certain customary closing conditions. Assuming satisfaction of the conditions to the transaction, the Loan Portfolio Acquisition is expected to close in mid-2024.
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