AFC Gamma reports Q4 GAAP net income $2.9M, declares $0.56 dividend; appoints Robyn Tannenbaum President

Advanced Flower Capital Inc.

Q4 2022 GAAP net income $2.9M ($0.14 per basic share); Distributable Earnings $12.6M ($0.62 per share).
Full year 2022 GAAP net income $35.9M ($1.80 per share); Distributable Earnings $49.9M ($2.51 per share).
Declared Q1 2023 dividend of $0.56 per share, payable April 14, 2023 to holders of record March 31, 2023 (unchanged).
Appointed Robyn Tannenbaum as President; she is spouse of CEO Leonard Tannenbaum; no salary increase in connection.
Related-party transactions disclosed: Manager fees $3.4M base (net of $1.8M rebate) and $12.3M incentive for 2022.

item 2.02 item 5.02 item 9.01

Executive movements

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Appointed

Robyn Tannenbaum

President

AFCG · Advanced Flower Capital Inc.

Effective: 2023-03-07
Filed: March 7, 2023, 6:59 PM ET

On March 7, 2023, the Company announced the appointment of Robyn Tannenbaum as President of the Company.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Advanced Flower Capital Inc. reported the full year 2022 results: net income $35.9 million, EPS $1.80 per basic weighted average common share.

Period: the full year 2022
Net income: $35.9 million
EPS: $1.80 per basic weighted average common share
Result: reported results

Exact text from the filing

The Company reported GAAP net income of $35.9 million or $1.80 per basic weighted average common share and Distributable Earnings of $49.9 million or $2.51 per basic weighted average common share for the full year 2022.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Advanced Flower Capital Inc. reported the fourth quarter of 2022 results: net income $2.9 million, EPS $0.14 per basic weighted average common share.

Period: the fourth quarter of 2022
Net income: $2.9 million
EPS: $0.14 per basic weighted average common share
Result: reported results

Exact text from the filing

AFC Gamma reported generally accepted accounting principles (“GAAP”) net income of $2.9 million or $0.14 per basic weighted average common share and Distributable Earnings of $12.6 million or $0.62 per basic weighted average common share for the fourth quarter of 2022.

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Executive change SEC 8-K Item 5.02 confidence 0.95

Robyn Tannenbaum was appointed as President at Advanced Flower Capital Inc..

Action: appointed
Role: President

Exact text from the filing

On March 7, 2023, the Company announced the appointment of Robyn Tannenbaum as President of the Company.

View on SEC.gov

31 earnings releases filed in the last 30 days. Browse all earnings releases →

Advanced Flower Capital Inc. filing history →

Source: SEC EDGAR

accession 0001822523-23-000007

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