Form 4: Chicago Atlantic BDC Executive Scott Gordon Reports Share Transactions

Scott Gordon, Co-Chief Investment Officer of Chicago Atlantic BDC, reported an in-kind distribution of shares and indirect beneficial ownership.

Summary

• Scott Gordon, the Co-Chief Investment Officer of Chicago Atlantic BDC, reported a transaction involving the company's common stock.
• On December 19, 2024, Mr. Gordon received 35,024 shares of common stock through an in-kind distribution.
• These shares were distributed from Silver Spike Holdings, LP, a limited partner of Chicago Atlantic BDC Advisers, LLC.
• Mr. Gordon also indirectly holds 3,815,776 shares through Chicago Atlantic BDC Advisers, LLC.
• The in-kind distribution was for no consideration, meaning no money was exchanged for the shares.
• Mr. Gordon disclaims beneficial ownership of the shares held by Chicago Atlantic BDC Advisers, LLC, except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a neutral report of a transaction, with no inherent positive or negative sentiment.

Management Comments

• Mr. Gordon disclaims beneficial ownership of the shares of Common Stock owned by Chicago Atlantic BDC Advisers, LLC except to the extent of his pecuniary interest therein.

Industry Context

This filing is a routine disclosure of insider transactions, which is common for publicly traded companies. It provides transparency into the ownership changes of key personnel.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the US, ensuring transparency of insider transactions.
• Similar filings are made by executives at other BDCs such as Ares Capital Corporation (ARCC) and Main Street Capital (MAIN) when they have transactions in their company's stock.
• The in-kind distribution is a less common transaction type, but is still a valid method of transferring shares.

Related Party Transactions

• The in-kind distribution from Silver Spike Holdings, LP, a limited partner of Chicago Atlantic BDC Advisers, LLC, is a related party transaction.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding insider ownership.
• The in-kind distribution does not directly impact the company's financials or operations.

Key Dates

Keywords

Chicago Atlantic BDC, Scott Gordon, Beneficial Ownership, SEC Form 4, In-kind Distribution, Common Stock, Silver Spike Holdings, Chicago Atlantic BDC Advisers