---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-031187"
form_type: "8-K"
ticker: "AFCG"
cik: "0001822523"
company_name: "Advanced Flower Capital Inc."
filed_at: "2024-07-03T23:59:59+00:00"
generated_at: "2026-05-31T23:33:33.004413+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# AFC Gamma to spin off CRE portfolio as Sunrise Realty Trust; distribution July 9, 2024

## Summary
- Record date July 8, 2024; one SUNS share for every three AFCG shares held; distribution expected July 9, 2024.
- SUNS to trade on Nasdaq under symbol 'SUNS'; when-issued trading begins July 9, regular way July 10.
- AFC Gamma declares $0.15/share special dividend payable July 15 to holders of record July 8.
- SUNS to have ~$115M in assets; ownership capped at 4.9% unless exempted (Tannenbaum exempt to 29.9%).
- Distribution taxable to AFCG holders; SUNS intends to qualify as REIT for U.S. tax purposes.

## SEC filing metadata
- accession: 0001628280-24-031187
- form_type: 8-K
- ticker: AFCG
- cik: 0001822523
- company_name: Advanced Flower Capital Inc.
- filed_at: 2024-07-03T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1822523/000162828024031187/0001628280-24-031187-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1822523/000162828024031187/afcg-20240702.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-031187
- JSON: https://secwatch.observer/filing/0001628280-24-031187.json
- Plain text: https://secwatch.observer/filing/0001628280-24-031187.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.