Chicago Atlantic Real Estate Finance Sees Board Member Resignation for NASDAQ Compliance

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) recently disclosed in an 8-K filing with the Securities and Exchange Commission that on December 27, 2024, Andreas Bodmeier resigned as a non-independent member of the Board of Directors. The resignation, effective January 1, 2025, was communicated to ensure compliance with NASDAQ Listing Rule 5605(b), which mandates a majority of independent directors on the board following another director’s departure.

Dr. Bodmeier will maintain his role within the company as an officer, serving as the President and Chief Investment Officer. In response to the departure, the Board is actively engaged in a search process to identify suitable independent director candidates to preserve compliance with NASDAQ regulations.

The 8-K filing underscores the company’s commitment to maintaining regulatory compliance while also striving for effective corporate governance. This strategic move aligns with Chicago Atlantic Real Estate Finance’s dedication to upholding transparency and accountability in its operations. Peter Sack, the Co-Chief Executive Officer of Chicago Atlantic Real Estate Finance, signed off on the filing on December 30, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Chicago Atlantic Real Estate Finance’s 8K filing here.

About Chicago Atlantic Real Estate Finance

Chicago Atlantic Real Estate Finance, Inc operates as a commercial real estate finance company in the United States. The company engages in originating, structuring, and investing in first mortgage loans and alternative structured financings secured by commercial real estate properties. Its portfolio primarily includes offers senior loans to state-licensed operators in the cannabis industry.