10-Q Filing

CHICAGO ATLANTIC BDC, INC. CIK: 1843162 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001140361-23-024271`
Period End Date	20230331
Filing Date	20230512
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	brhc20052248_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 50 Cash Flow Statement 60

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Amortized cost	`InvestmentOwnedAtCost`	$50.53M	USD	Point-in-time
Amortized cost	`InvestmentOwnedAtCost`	$54.91M	USD	Point-in-time
Amortized cost	`InvestmentOwnedAtCost`	$50.53M	USD	Point-in-time
Non-control/non-affiliate investments at fair value (amortized cost of $54,910,290 and $50,527,898, respectively)	`InvestmentOwnedAtFairValue`	$50.25M	USD	Point-in-time
Non-control/non-affiliate investments at fair value (amortized cost of $54,910,290 and $50,527,898, respectively)	`InvestmentOwnedAtFairValue`	$55.62M	USD	Point-in-time
Non-control/non-affiliate investments at fair value (amortized cost of $54,910,290 and $50,527,898, respectively)	`InvestmentOwnedAtFairValue`	$50.25M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$35.13M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$32.54M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Interest receivable	`InterestReceivable`	$1.57M	USD	Point-in-time
Interest receivable	`InterestReceivable`	$1.56M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrentAndNoncurrent`	$254.65K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	6.21M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	6.21M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrentAndNoncurrent`	$32.32K	USD	Point-in-time
Total assets	`Assets`	$89.99M	USD	Point-in-time
Total assets	`Assets`	$86.97M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	6.21M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	6.21M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	6.21M	shares	Point-in-time
Management fee payable	`ManagementFeePayable`	$170.97K	USD	Point-in-time
Management fee payable	`ManagementFeePayable`	$409.38K	USD	Point-in-time
Income-based incentive fee payable	`IncomeBasedIncentiveFeePayable`	$203.82K	USD	Point-in-time
Income-based incentive fee payable	`IncomeBasedIncentiveFeePayable`	-	USD	Point-in-time
Capital gains incentive fee payable	`CapitalGainsIncentiveFeePayable`	-	USD	Point-in-time
Capital gains incentive fee payable	`CapitalGainsIncentiveFeePayable`	$142.60K	USD	Point-in-time
Legal fees payable	`LegalFeesPayableCurrentAndNoncurrent`	$99.99K	USD	Point-in-time
Legal fees payable	`LegalFeesPayableCurrentAndNoncurrent`	$42.22K	USD	Point-in-time
Administrator fees payable	`AdministratorFeesPayableCurrentAndNoncurrent`	$57.31K	USD	Point-in-time
Administrator fees payable	`AdministratorFeesPayableCurrentAndNoncurrent`	$82.94K	USD	Point-in-time
Valuation fees payables	`AccountsPayableTradeCurrentAndNoncurrent`	$72.19K	USD	Point-in-time
Valuation fees payables	`AccountsPayableTradeCurrentAndNoncurrent`	-	USD	Point-in-time
Audit fees payable	`AuditFeesPayableCurrentAndNoncurrent`	$50.00K	USD	Point-in-time
Audit fees payable	`AuditFeesPayableCurrentAndNoncurrent`	$47.88K	USD	Point-in-time
Professional fees payable	`AccruedProfessionalFeesCurrentAndNoncurrent`	$46.94K	USD	Point-in-time
Professional fees payable	`AccruedProfessionalFeesCurrentAndNoncurrent`	$28.74K	USD	Point-in-time
Director's fee payable	`DirectorsFeePayableCurrentAndNoncurrent`	$32.05K	USD	Point-in-time
Director's fee payable	`DirectorsFeePayableCurrentAndNoncurrent`	$35.94K	USD	Point-in-time
Excise tax payable	`SalesAndExciseTaxPayableCurrentAndNoncurrent`	-	USD	Point-in-time
Excise tax payable	`SalesAndExciseTaxPayableCurrentAndNoncurrent`	$80.57K	USD	Point-in-time
Due to affiliate	`DueToAffiliateCurrentAndNoncurrent`	-	USD	Point-in-time
Due to affiliate	`DueToAffiliateCurrentAndNoncurrent`	$37.00	USD	Point-in-time
Other payables	`OtherLiabilities`	$33.66K	USD	Point-in-time
Other payables	`OtherLiabilities`	$15.52K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.16M	USD	Point-in-time
Total liabilities	`Liabilities`	$495.55K	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common Stock, $0.01 par value, 100,000,000 shares authorized, 6,214,672 and 6,214,672 shares issued and outstanding, respectively	`CommonStockValue`	$62.15K	USD	Point-in-time
Common Stock, $0.01 par value, 100,000,000 shares authorized, 6,214,672 and 6,214,672 shares issued and outstanding, respectively	`CommonStockValue`	$62.15K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$85.04M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$84.92M	USD	Point-in-time
Distributable earnings/(Accumulated losses)	`RetainedEarningsAccumulatedDeficit`	$1.50M	USD	Point-in-time
Distributable earnings/(Accumulated losses)	`RetainedEarningsAccumulatedDeficit`	$3.73M	USD	Point-in-time
Total net assets	`StockholdersEquity`	$86.48M	USD	Point-in-time
Total net assets	`StockholdersEquity`	$88.83M	USD	Point-in-time
Total net assets	`StockholdersEquity`	$-507.55K	USD	Point-in-time
Total net assets	`StockholdersEquity`	$84.55M	USD	Point-in-time
NET ASSET VALUE PER SHARE (in dollars per share)	`NetAssetValuePerShare`	$14.00	USD	Point-in-time
NET ASSET VALUE PER SHARE (in dollars per share)	`NetAssetValuePerShare`	$14.29	USD	Point-in-time
NET ASSET VALUE PER SHARE (in dollars per share)	`NetAssetValuePerShare`	$13.61	USD	Point-in-time
NET ASSET VALUE PER SHARE (in dollars per share)	`NetAssetValuePerShare`	$13.91	USD	Point-in-time

Income Statement 50 line items

Line Item	Tag	Value	Unit	Period
Fee income	`FeeIncome`	-	USD	1 Quarter
Fee income	`FeeIncome`	-	USD	1 Quarter
Management fee	`ManagementFeeExpense`	-	USD	1 Quarter
Management fee	`ManagementFeeExpense`	$238.42K	USD	1 Quarter
Income-based incentive fee	`IncomeBasedIncentiveFeeExpense`	$203.82K	USD	1 Quarter
Income-based incentive fee	`IncomeBasedIncentiveFeeExpense`	-	USD	1 Quarter
Capital gains incentive fee	`CapitalGainsIncentiveFeeExpense`	-	USD	1 Quarter
Capital gains incentive fee	`CapitalGainsIncentiveFeeExpense`	$142.60K	USD	1 Quarter
Legal expenses	`LegalFees`	$98.76K	USD	1 Quarter
Legal expenses	`LegalFees`	$34.07K	USD	1 Quarter
Audit expense	`AuditFeeExpense`	$10.00K	USD	1 Quarter
Audit expense	`AuditFeeExpense`	$97.88K	USD	1 Quarter
Administrator fees	`AdministrativeFeesExpense`	$47.15K	USD	1 Quarter
Administrator fees	`AdministrativeFeesExpense`	$77.84K	USD	1 Quarter
Valuation fees	`ValuationFeesExpense`	$73.06K	USD	1 Quarter
Valuation fees	`ValuationFeesExpense`	-	USD	1 Quarter
Insurance expense	`GeneralInsuranceExpense`	$69.08K	USD	1 Quarter
Insurance expense	`GeneralInsuranceExpense`	$46.49K	USD	1 Quarter
Director expenses	`NoninterestExpenseDirectorsFees`	$35.94K	USD	1 Quarter
Director expenses	`NoninterestExpenseDirectorsFees`	-	USD	1 Quarter
Professional fees	`ProfessionalFees`	$34.92K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$18.19K	USD	1 Quarter
Custodian fees	`CustodyFees`	$12.00K	USD	1 Quarter
Custodian fees	`CustodyFees`	$12.00K	USD	1 Quarter
Organizational expenses	`GeneralAndAdministrativeExpense`	-	USD	1 Quarter
Organizational expenses	`GeneralAndAdministrativeExpense`	$34.17K	USD	1 Quarter
Other expenses	`OtherCostAndExpenseOperating`	$6.81K	USD	1 Quarter
Other expenses	`OtherCostAndExpenseOperating`	$19.50K	USD	1 Quarter
Total expenses	`InvestmentIncomeInvestmentExpense`	$225.60K	USD	1 Quarter
Total expenses	`InvestmentIncomeInvestmentExpense`	$1.09M	USD	1 Quarter
NET INVESTMENT INCOME (LOSS)	`NetInvestmentIncome`	$-215.53K	USD	1 Quarter
NET INVESTMENT INCOME (LOSS)	`NetInvestmentIncome`	$1.37M	USD	1 Quarter
Net realized gain (loss) from investments	`RealizedGainLossInvestmentAndDerivativeOperatingAfterTax`	-	USD	1 Quarter
Net realized gain (loss) from investments	`RealizedGainLossInvestmentAndDerivativeOperatingAfterTax`	-	USD	1 Quarter
Net change in unrealized appreciation/(depreciation) on investments	`UnrealizedGainLossInvestmentAndDerivativeOperatingAfterTax`	$986.36K	USD	1 Quarter
Net change in unrealized appreciation/(depreciation) on investments	`UnrealizedGainLossInvestmentAndDerivativeOperatingAfterTax`	-	USD	1 Quarter
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	`IncomeLossFromContinuingOperations`	$2.36M	USD	1 Quarter
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	`IncomeLossFromContinuingOperations`	$-215.53K	USD	1 Quarter
NET INVESTMENT INCOME (LOSS) PER SHARE - BASIC (in dollars per share)	`NetInvestmentIncomeLossPerShareBasic`	$-0.06	USD	1 Quarter
NET INVESTMENT INCOME (LOSS) PER SHARE - BASIC (in dollars per share)	`NetInvestmentIncomeLossPerShareBasic`	$0.22	USD	1 Quarter
NET INVESTMENT INCOME (LOSS) PER SHARE - DILUTED (in dollars per share)	`NetInvestmentIncomeLossPerShareDiluted`	$-0.06	USD	1 Quarter
NET INVESTMENT INCOME (LOSS) PER SHARE - DILUTED (in dollars per share)	`NetInvestmentIncomeLossPerShareDiluted`	$0.22	USD	1 Quarter
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS PER SHARE - BASIC (in dollars per share)	`EarningsPerShareBasic`	$0.38	USD	1 Quarter
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS PER SHARE - BASIC (in dollars per share)	`EarningsPerShareBasic`	$-0.06	USD	1 Quarter
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS PER SHARE - DILUTED (in dollars per share)	`EarningsPerShareDiluted`	$0.38	USD	1 Quarter
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS PER SHARE - DILUTED (in dollars per share)	`EarningsPerShareDiluted`	$-0.06	USD	1 Quarter
WEIGHTED AVERAGE SHARES OUTSTANDING - BASIC (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	6.21M	shares	1 Quarter
WEIGHTED AVERAGE SHARES OUTSTANDING - BASIC (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	3.56M	shares	1 Quarter
WEIGHTED AVERAGE SHARES OUTSTANDING - DILUTED (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	6.21M	shares	1 Quarter
WEIGHTED AVERAGE SHARES OUTSTANDING - DILUTED (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.56M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net increase (decrease) in net assets resulting from operations	`IncomeLossFromContinuingOperations`	$2.36M	USD	1 Quarter
Net increase (decrease) in net assets resulting from operations	`IncomeLossFromContinuingOperations`	$-215.53K	USD	1 Quarter
Net change in unrealized (appreciation) depreciation from investments	`UnrealizedGainLossInvestmentAndDerivativeOperatingAfterTax`	$986.36K	USD	1 Quarter
Net change in unrealized (appreciation) depreciation from investments	`UnrealizedGainLossInvestmentAndDerivativeOperatingAfterTax`	-	USD	1 Quarter
Net (accretion of discounts) and amortization of premiums	`DepreciationAmortizationAndAccretionNet`	-	USD	1 Quarter
Net (accretion of discounts) and amortization of premiums	`DepreciationAmortizationAndAccretionNet`	$-140.82K	USD	1 Quarter
Purchase of investments	`PaymentsForPurchaseOfSecuritiesOperatingActivities`	$4.23M	USD	1 Quarter
Purchase of investments	`PaymentsForPurchaseOfSecuritiesOperatingActivities`	-	USD	1 Quarter
PIK interest capitalized	`CapitalizedPaidInKindInterest`	-	USD	1 Quarter
PIK interest capitalized	`CapitalizedPaidInKindInterest`	$-11.57K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$222.33K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$256.51K	USD	1 Quarter
Interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$9.21K	USD	1 Quarter
Interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$8.95K	USD	1 Quarter
Deferred offering costs	`IncreaseDecreaseInDeferredCharges`	-	USD	1 Quarter
Deferred offering costs	`IncreaseDecreaseInDeferredCharges`	$-1.40M	USD	1 Quarter
Management fee payable	`IncreaseDecreaseInManagementFeePayables`	-	USD	1 Quarter
Management fee payable	`IncreaseDecreaseInManagementFeePayables`	$238.42K	USD	1 Quarter
Income-based incentive fee payable	`IncreaseDecreaseInIncomeBasedIncentiveFeePayable`	$203.82K	USD	1 Quarter
Income-based incentive fee payable	`IncreaseDecreaseInIncomeBasedIncentiveFeePayable`	-	USD	1 Quarter
Capital gains incentive fee payable	`IncreaseDecreaseInCapitalGainsIncentiveFeePayable`	-	USD	1 Quarter
Capital gains incentive fee payable	`IncreaseDecreaseInCapitalGainsIncentiveFeePayable`	$142.60K	USD	1 Quarter
Legal fees payable	`IncreaseDecreaseInLegalFeesPayable`	$57.77K	USD	1 Quarter
Legal fees payable	`IncreaseDecreaseInLegalFeesPayable`	$33.98K	USD	1 Quarter
Administrator fees payable	`IncreaseDecreaseInAdministratorFeesPayable`	$47.15K	USD	1 Quarter
Administrator fees payable	`IncreaseDecreaseInAdministratorFeesPayable`	$25.63K	USD	1 Quarter
Valuation fees payables	`IncreaseDecreaseInValuationFeesPayables`	$72.19K	USD	1 Quarter
Valuation fees payables	`IncreaseDecreaseInValuationFeesPayables`	-	USD	1 Quarter
Professional fees payable	`IncreaseDecreaseInProfessionalFeesPayable`	-	USD	1 Quarter
Professional fees payable	`IncreaseDecreaseInProfessionalFeesPayable`	$18.19K	USD	1 Quarter
Director's fee payable	`IncreaseDecreaseInDirectorSFeePayable`	$3.90K	USD	1 Quarter
Director's fee payable	`IncreaseDecreaseInDirectorSFeePayable`	$24.37K	USD	1 Quarter
Excise tax payable	`IncreaseDecreaseInExciseTaxPayable`	$-80.57K	USD	1 Quarter
Excise tax payable	`IncreaseDecreaseInExciseTaxPayable`	-	USD	1 Quarter
Due to affiliate	`IncreaseDecreaseInDueToAffiliates`	$-37.00	USD	1 Quarter
Due to affiliate	`IncreaseDecreaseInDueToAffiliates`	$-383.99K	USD	1 Quarter
Offering cost payable	`IncreaseDecreaseInOfferingCostPayable`	-	USD	1 Quarter
Offering cost payable	`IncreaseDecreaseInOfferingCostPayable`	$-759.67K	USD	1 Quarter
Audit fees payable	`IncreaseDecreaseInAuditFeesPayable`	$10.00K	USD	1 Quarter
Audit fees payable	`IncreaseDecreaseInAuditFeesPayable`	$-2.12K	USD	1 Quarter
Organizational costs payable	`IncreaseDecreaseInOrganizationalCostsPayable`	-	USD	1 Quarter
Organizational costs payable	`IncreaseDecreaseInOrganizationalCostsPayable`	$-396.11K	USD	1 Quarter
Other payables	`IncreaseDecreaseInOtherAccountsPayable`	$1.36K	USD	1 Quarter
Other payables	`IncreaseDecreaseInOtherAccountsPayable`	$-18.15K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-509.11K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.58M	USD	1 Quarter
Issuance of common stock, net of offering cost	`ProceedsFromIssuanceOfCommonStock`	$85.27M	USD	1 Quarter
Issuance of common stock, net of offering cost	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$85.27M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net increase (decrease) in cash & cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$84.76M	USD	1 Quarter
Net increase (decrease) in cash & cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-2.58M	USD	1 Quarter
Cash & cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.40K	USD	Point-in-time
Cash & cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$84.77M	USD	Point-in-time
Cash & cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$35.13M	USD	Point-in-time
Cash & cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$32.54M	USD	Point-in-time
Cash & cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.40K	USD	Point-in-time
Cash & cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$84.77M	USD	Point-in-time
Cash & cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$35.13M	USD	Point-in-time
Cash & cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$32.54M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.