Silver Spike Investment Earlier, Announced Agreement to Acquire Loan Portfolio From Chicago Atlantic; Terms Not Disclosed
Portfolio Pulse from Charles Gross
Silver Spike Investment Corp. (SSIC) has entered into a definitive agreement to acquire a significant loan portfolio from Chicago Atlantic Loan Portfolio, LLC (CALP). The acquisition will be made in exchange for newly issued shares of SSIC's common stock, with the net asset value equal to the CALP Loan Portfolio's value. This move aligns with SSIC's newly announced broadened investment strategy.
February 20, 2024 | 12:47 pm
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Silver Spike Investment Corp. (SSIC) is acquiring a significant loan portfolio from CALP, which will be paid for with newly issued SSIC common stock. This acquisition is part of SSIC's broader investment strategy.
The acquisition of the CALP Loan Portfolio by SSIC is a significant strategic move that could enhance SSIC's asset base and diversify its investment portfolio. Issuing new shares to finance the acquisition might dilute current shareholders' value in the short term, but the expansion of the asset base and alignment with the broadened investment strategy could positively impact SSIC's stock price in the short term. The confidence level is not at 100 due to the lack of disclosed terms, which adds some uncertainty to the immediate financial implications of the deal.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100