---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-051325"
form_type: "8-K"
ticker: "AFCG"
cik: "0001822523"
company_name: "Advanced Flower Capital Inc."
filed_at: "2025-11-12T23:59:59+00:00"
generated_at: "2026-05-16T21:26:31.570396+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# AFCG Q3 2025: GAAP net loss $12.5M; shareholders approve REIT-to-BDC conversion

## Summary
- GAAP net loss of $12.5M ($0.57/share); Distributable Earnings of $3.5M ($0.16/share).
- Regular cash dividend of $0.15/share paid on Oct 15 for Q3 2025.
- Shareholders approved conversion from mortgage REIT to BDC; expected completion in Q1 2026.
- CEO cites progress resolving nonaccrual positions; limited new capital entering cannabis market.

## SEC filing metadata
- accession: 0001628280-25-051325
- form_type: 8-K
- ticker: AFCG
- cik: 0001822523
- company_name: Advanced Flower Capital Inc.
- filed_at: 2025-11-12T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1822523/000162828025051325/0001628280-25-051325-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1822523/000162828025051325/afcg-20251112.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-051325
- JSON: https://secwatch.observer/filing/0001628280-25-051325.json
- Plain text: https://secwatch.observer/filing/0001628280-25-051325.txt

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