{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-24-031518","form_type":"8-K","ticker":"AFCG","cik":"0001822523","company_name":"Advanced Flower Capital Inc.","filed_at":"2024-07-09T23:59:59+00:00","discovered_at":"2026-05-14T18:03:14.681220+00:00","generated_at":"2026-05-31T22:38:32.178930+00:00","sec_items":["1.01","2.01","5.02","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"AFC Gamma completes spin-off of CRE business into SUNS; holders get 1 SUNS per 3 AFCG shares","bullets":["Distribution of 1 SUNS common share for every 3 AFCG shares held as of July 8, 2024 record date; effective July 9, 2024.","Pro forma Q1 2024 net loss after separation: $1.1M (diluted EPS -$0.06) vs historical net loss $54k.","Pro forma FY2023 net income $20.8M (diluted EPS $1.01) vs historical $21.0M ($1.02).","Board changes: Jodi Hanson Bond, James Fagan resign from AFCG board, join SUNS board; Leonard Tannenbaum, Brandon Hetzel, Robyn Tannenbaum assume SUNS executive roles while retaining AFCG positions.","SUNS begins trading on Nasdaq under symbol \"SUNS\" on July 9, 2024."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-24-031518","json":"https://secwatch.observer/filing/0001628280-24-031518.json","markdown":"https://secwatch.observer/filing/0001628280-24-031518.md","text":"https://secwatch.observer/filing/0001628280-24-031518.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1822523/000162828024031518/0001628280-24-031518-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1822523/000162828024031518/afcg-20240708.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-31T22:38:32.178930+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"b8ad3363b8","claim":"James Fagan resigned as Director at Advanced Flower Capital Inc..","evidence_excerpt":"Jodi Hanson Bond and James Fagan resigned from the Company’s Board of Directors","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1822523/000162828024031518/0001628280-24-031518-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"d93c638aeb","claim":"Jodi Hanson Bond resigned as Director at Advanced Flower Capital Inc..","evidence_excerpt":"Jodi Hanson Bond and James Fagan resigned from the Company’s Board of Directors","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1822523/000162828024031518/0001628280-24-031518-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"0904892a2e35a8d9e5ac764506605503f6d7b645","claim":"Advanced Flower Capital Inc. completed a disposition (closed 2024-07-09).","evidence_excerpt":"AFC Gamma completed the Spin-Off on July 9, 2024, through the Distribution to all holders of outstanding shares of the Company’s common stock as of the close of business on the Record Date.","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1822523/000162828024031518/0001628280-24-031518-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"disposition"},{"label":"Closing","value":"2024-07-09"}],"fact_type":"ma_transaction"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}