Scott Gordon - 19 May 2025 Form 4 Insider Report for Chicago Atlantic BDC, Inc. (LIEN)

Role: Co-Chief Investment Officer, Director, 10%+ Owner
Signature: /s/ Scott Gordon
Issuer symbol: LIEN
Transactions as of: 19 May 2025
Net transactions value: $0
Form type: 4
Filing time: 21 May 2025, 18:50:33 UTC
Previous filing: 20 Dec 2024
Next filing: 26 Jun 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Gordon Scott	Co-Chief Investment Officer, Director, 10%+ Owner	C/O CHICAGO ATLANTIC BDC, INC., 600 MADISON AVENUE, SUITE 1800, NEW YORK	/s/ Scott Gordon	21 May 2025	0001784452

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LIEN	Common Stock	Other	$0	-214,286	-5.6%	$0.000000	3,601,490	19 May 2025	Chicago Atlantic BDC Advisers, LLC	F1, F2
transaction	LIEN	Common Stock	Other	$0	-714,286	-20%	$0.000000	2,887,204	19 May 2025	Chicago Atlantic BDC Advisers, LLC	F1, F2
holding	LIEN	Common Stock						35,024	19 May 2025	Direct

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents an in-kind distribution of shares of Common Stock to a limited partner of Silver Spike Holdings, LP for no consideration. Silver Spike Holdings, LP owns over 25% of the ownership interests of Chicago Atlantic BDC Advisers, LLC.
F2	Scott Gordon directly (whether through ownership or position) or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of the shares of Common Stock owned by Chicago Atlantic BDC Advisers, LLC. Mr. Gordon disclaims beneficial ownership of the shares of Common Stock owned by Chicago Atlantic BDC Advisers, LLC except to the extent of his pecuniary interest therein and this report shall not be deemed an admission that he is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

Content

Represents an in-kind distribution of shares of Common Stock to a limited partner of Silver Spike Holdings, LP for no consideration. Silver Spike Holdings, LP owns over 25% of the ownership interests of Chicago Atlantic BDC Advisers, LLC.

Scott Gordon directly (whether through ownership or position) or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of the shares of Common Stock owned by Chicago Atlantic BDC Advisers, LLC. Mr. Gordon disclaims beneficial ownership of the shares of Common Stock owned by Chicago Atlantic BDC Advisers, LLC except to the extent of his pecuniary interest therein and this report shall not be deemed an admission that he is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.