Chicago Atlantic Real Estate Finance Appoints New Directors and CFO
Ticker: REFI · Form: 8-K · Filed: Dec 30, 2024 · CIK: 1867949
Sentiment: neutral
Topics: leadership-change, board-of-directors, cfo-appointment
TL;DR
New blood at the top for Chicago Atlantic RE: McLellan & Weinstein join board, Johnson is new CFO, D'Angelo out.
AI Summary
Chicago Atlantic Real Estate Finance, Inc. announced on December 30, 2024, that its Board of Directors elected two new directors, Michael A. McLellan and David J. Weinstein, effective December 27, 2024. The company also announced the appointment of Joseph J. Johnson as Chief Financial Officer and Treasurer, and the departure of its previous CFO, John T. D'Angelo. These changes are effective immediately.
Why It Matters
The election of new directors and a new CFO indicates potential shifts in leadership strategy and financial oversight for the real estate investment trust.
Risk Assessment
Risk Level: medium — Changes in key leadership positions like CFO and board members can introduce uncertainty regarding future strategy and financial management.
Key Players & Entities
- Chicago Atlantic Real Estate Finance, Inc. (company) — Registrant
- Michael A. McLellan (person) — Newly Elected Director
- David J. Weinstein (person) — Newly Elected Director
- Joseph J. Johnson (person) — Newly Appointed CFO and Treasurer
- John T. D'Angelo (person) — Departing CFO
- December 27, 2024 (date) — Effective date of director elections
- December 30, 2024 (date) — Date of report
FAQ
Who were the new directors elected to the Board of Chicago Atlantic Real Estate Finance, Inc.?
Michael A. McLellan and David J. Weinstein were elected as new directors.
When were the new directors' elections effective?
The elections of Michael A. McLellan and David J. Weinstein were effective as of December 27, 2024.
Who has been appointed as the new Chief Financial Officer and Treasurer?
Joseph J. Johnson has been appointed as the new Chief Financial Officer and Treasurer.
Who is the departing Chief Financial Officer?
John T. D'Angelo is the departing Chief Financial Officer.
What is the exact date of this 8-K filing?
This 8-K filing is dated December 30, 2024.
Filing Stats: 499 words · 2 min read · ~2 pages · Grade level 12.7 · Accepted 2024-12-30 16:01:32
Key Financial Figures
- $0.01 — ch registered Common stock, par value $0.01 per share REFI The Nasdaq Global Ma
Filing Documents
- ea022630101-8k_chicago.htm (8-K) — 22KB
- 0001213900-24-113471.txt ( ) — 194KB
- refi-20241227.xsd (EX-101.SCH) — 3KB
- refi-20241227_lab.xml (EX-101.LAB) — 33KB
- refi-20241227_pre.xml (EX-101.PRE) — 22KB
- ea022630101-8k_chicago_htm.xml (XML) — 4KB
02 Departure of Directors or Certain Officers;
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On December 27, 2024, Andreas Bodmeier notified the Board of Directors (the "Board") of Chicago Atlantic Real Estate Finance, Inc. (the "Company") of his resignation, effective as of January 1, 2025, from his position as a non-independent member of the Board. Dr. Bodmeier's resignation is solely for the purpose of ensuring that the Board remain majority independent as required by NASDAQ Listing Rule 5605(b) following the resignation of Donald E. Gulbrandsen, effective January 1, 2025, as previously reported . D r. Bodmeier will remain as an officer of the Company in his capacity as President and Chief Investment Officer. The Board is continuing its search to identify qualified independent director candidates. 1 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized. CHICAGO ATLANTIC REAL ESTATE FINANCE, INC. Date: December 30, 2024 By: /s/ Peter Sack Name: Peter Sack Title: Co-Chief Executive Officer 2