Business Context and Reporting Period
This Form 8-K filing by Chicago Atlantic BDC, Inc. (LIEN) reports a corporate governance event. The report date is June 19, 2025, covering the resignation of a director effective June 20, 2025.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
The material change reported is the departure of Mr. John Mazarakis from his position as an interested Director on the Company's Board. The resignation is effective June 20, 2025.
Management Commentary and Risks
- Reason for Departure: The resignation is solely to ensure compliance with Section 15(f) of the Investment Company Act of 1940.
- No Disagreement: Management explicitly states the departure is not due to any disagreement regarding the Company's operations, policies, or practices.
- Outlook: No financial guidance or future outlook is provided in this filing.
Key Facts for Investor Verification
- Verify the appointment of a replacement director to maintain Board quorum and compliance.
- Confirm the specific compliance requirements under Section 15(f) of the Investment Company Act of 1940 that necessitated the resignation.
- Check subsequent filings for any impact on the Company's investment advisory agreements or board composition.