Chicago Atlantic Bdc, Inc. · NASDAQ:LIEN
Chicago Atlantic Bdc — Silver Spike Investment — Q1 2024 Earnings Presentation
13 slides from Chicago Atlantic Bdc's earnings presentation, May 10, 2024
Slide 1: First Quarter 2024 Earnings Presentation
First Quarter 2024 Earnings Presentation May 10, 2024
Slide 2: Disclaimers and Forward-Looking Statements
2 SILVER SPIKE INVESTMENT CORP. ©2024 All Rights Reserved DISCLAIMERS AND FORWARD - LOOKING STATEMENTS The information contained in this presentation should be viewed in conjunction with the earnings conference call of Silver Spike Investment Corp . (“SSIC” or the “Company”) (NASDAQ : SSIC) held on
Slide 3: Financial Highlights for Quarter Ended 3/31/24
3 SILVER SPIKE INVESTMENT CORP. ©2024 All Rights Reserved Financial Highlights for Quarter Ended 3/31/24 Q UARTER E NDED 3/31/23 Q UARTER E NDED 3/31/24 $2.5 million $2.8 million G ROSS I NVESTMENT I NCOME $1.1 million $0.8 million E XPENSES E XCLUDING L OAN P ORTFOLIO A CQUISITION E XPENSES $1.4 mi
Slide 4: Silver Spike Capital Overview
4 SILVER SPIKE CAPITAL ©2024 All Rights Reserved Silver Spike Capital, LLC Overview Silver Spike Investment Corp. (NASDAQ: SSIC) is externally managed by Silver Spike Capital, LLC (“SSC”) SSC is an SEC - registered investment adviser that works with its clients to originate, underwrite, and depl
Slide 5: Experienced Management Team
5 SILVER SPIKE INVESTMENT CORP. ©2024 All Rights Reserved Experienced Management Team 36 - year investment career in global special situations, distressed, and emerging markets Holds board positions at Papa & Barkley and WM Holding Company, LLC (“Weedmaps”) Early entrepreneur and investor in c
Slide 6: Competitive Advantages
6 SILVER SPIKE INVESTMENT CORP. ©2024 All Rights Reserved Competitive Advantages M ANAGEMENT T EAM First mover in the cannabis BDC landscape — currently the only public BDC focused on direct - lending to the cannabis sector BDCs are direct lending vehicles that are more flexible than REITS: De
Slide 7: Why Now? Market Opportunity
7 SILVER SPIKE INVESTMENT CORP. ©2024 All Rights Reserved 1. Equio® data as of March 4, 2024. https://newfrontierdata.com/equio - features/ 2. TD Cowen “Ahead of the Curve Series: Cannabis Beats Booze” December 15, 2023 3. Morningstar LSTA US Leveraged Loan Index, Yield to Maturity as of 3/31/24. 4.
Slide 8: Investment Process: Credit Monitoring & Portfolio Management
8 SILVER SPIKE INVESTMENT CORP. ©2024 All Rights Reserved CREDIT MONITORING & PORTFOLIO MANAGEMENT BRING - DOWN DILIGENCE AND CLOSING FINAL INVESTMENT COMMITTEE MEETING CONDUCT DETAILED DUE DILIGENCE EXECUTE INDICATIVE TERM SHEET INITIAL INVESTMENT COMMITTEE MEETING INITIAL CREDIT REVIEW LOAN SOURCI
Slide 9: Highlights of Silver Spike's Sourcing & Origination Funnel
9 SILVER SPIKE INVESTMENT CORP. ©2024 All Rights Reserved Highlights of Silver Spike’s Sourcing & Origination Funnel Our preference is to directly originate deals via our networks. Direct deal sourcing is enhanced by cannabis operating experience and visibility from Silver Spike management’s publicl
Slide 10: Portfolio Composition & Diversity
10 SILVER SPIKE INVESTMENT CORP. ©2024 All Rights Reserved Portfolio Composition & Diversity Number of States by Company (As of March 31, 2024) 47% 53% Brand Focus Multi-State Focus Company Strategy 1 8% 92% Non-Vertically Integrated Vertically Integrated Supply Chain Focus 1,2 0 2 4 6 8 10 12 14 16
Slide 11: SSIC Portfolio Summary
11 SILVER SPIKE INVESTMENT CORP. ©2024 All Rights Reserved SSIC Portfolio Summary % OF N ET A SSETS I NVESTED 3 I NVESTMENT V ALUE 2 I NTEREST R ATE M ATURITY D ATE I NVESTMENT D ATE P ORTFOLIO C OMPANY 25.11% $21.22mm Prime Rate + 8.50% Cash, 1.00% PIK 5/26/2026 5/26/2022 Company A 4.75% $4.02mm 12
Slide 12: Proposed Loan Portfolio Acquisition
12 SILVER SPIKE INVESTMENT CORP. ©2024 All Rights Reserved Proposed Loan Portfolio Acquisition . 1. Net of estimated expenses related to the Loan Portfolio Acquisition. 2. Estimated Yield to Maturity (“YTM”) includes a variety of fees and features that affect the total yield, which may include, b ut
Slide 13: Contact
CONTACT: B ILL H EALY – P ARTNER BILL @ SILVERSPIKECAP . COM SSIC . SILVERSPIKECAP . COM
Silver Spike Investment — Q1 2024 Earnings Presentation on 6ix