secwatch.observer — SEC 8-K summary
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Issuer:     Advanced Flower Capital Inc. (AFCG)
CIK:        0001822523
Form:       8-K
Filed at:   2024-07-03T23:59:59+00:00
Accession:  0001628280-24-031187
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1822523/000162828024031187/0001628280-24-031187-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1822523/000162828024031187/afcg-20240702.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-031187

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