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Chicago Atlantic Real Estate Finance Files for IPO

Chicago Atlantic Real Estate Finance, Inc. , a commercial real estate finance company that invests primarily in first mortgage loans to state-licensed operators in the cannabis industry, has filed a registration statement related to an initial public offering of 6,250,000 shares of its common stock.  

The price range for this offering is currently $16.00 to $18.00 per share of common stock, for an IPO of approximately $106 million at the midpoint. Chicago Atlantic intends to qualify as a REIT that will trade on the NASDAQ Global Market under the ticker REFI.  

In connection with this offering, Chicago Atlantic is expected to grant the underwriters a 30-day option to purchase up to an additional 937,500 shares of its common stock.  

JMP Securities, Compass Point Research & Trading and Oppenheimer & Co. are acting as joint book-running managers. Lake Street Capital Markets and East West Markets are acting as co-managers. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing