Chicago Atlantic BDC (LIEN) Co‑CIO Gordon Scott Buys Stock

What Happened
Gordon Scott, Co‑Chief Investment Officer and a director of Chicago Atlantic BDC, acquired a total of 9,215 shares of the company's common stock in three open‑market purchases between Aug 20 and Aug 24, 2026. Transactions reported: 7,500 shares at a weighted‑avg ~$9.70 on Aug 20 (reported value $72,784), 195 shares at $9.95 on Aug 21 (reported value $1,940), and 1,520 shares at a weighted‑avg ~$10.11 on Aug 24 (reported value $15,366). Total cash outlay across the three purchases is about $90,090. These were purchases (transaction code P), which are generally viewed as informative for investors because they increase insider exposure to the stock.

Key Details

• Transaction dates and reported prices:
  • Aug 20, 2026 — 7,500 shares at weighted‑avg price ≈ $9.70 (trade prices ranged $9.70–$9.72 per footnote F1)
  • Aug 21, 2026 — 195 shares at $9.95
  • Aug 24, 2026 — 1,520 shares at weighted‑avg price ≈ $10.11 (trade prices ranged $10.10–$10.11 per footnote F2)
• Total shares bought: 9,215; total reported value ≈ $90,090.
• Shares owned after transaction: not disclosed in the filing.
• Filing/ timing: Form 4 was filed on Aug 24, 2026 (the same day as the last reported purchase); the report does not indicate a late filing.
• Notable footnotes:
  • F1 & F2: The Aug 20 and Aug 24 prices are weighted averages from multiple trades; the filer will provide breakdowns on request.
  • F3: Mr. Scott may be deemed an indirect beneficial owner of shares held by Chicago Atlantic BDC Advisers, LLC but disclaims beneficial ownership except to the extent of pecuniary interest.

Context
These were straightforward open‑market purchases (no option exercises, awards, gifts, or 10b5‑1 plan noted). Purchases by officers can be of interest to retail investors because they increase the insider’s direct exposure, but filings do not explain motivation. The F3 disclosure is an ownership clarification common when an insider has a relationship to an investment adviser entity; it does not necessarily change the fact of the reported personal purchases.