---
schema_version: "secwatch.filing_event.v1"
accession: "0001822523-24-000011"
form_type: "8-K"
ticker: "AFCG"
cik: "0001822523"
company_name: "Advanced Flower Capital Inc."
filed_at: "2024-02-22T23:59:59+00:00"
generated_at: "2026-06-05T20:46:24.293474+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 commercial real estate lending into standalone public REIT SUNS

## Summary
- $115M of CRE loans and cash to be contributed to SUNS; AFC Gamma retains ~$330M cannabis loan portfolio.
- Spin-off expected mid-2024; SUNS common stock to list on Nasdaq under "SUNS".
- Shareholders to receive pro-rata distribution of SUNS shares plus $0.15 special cash dividend.
- Brian Sedrish to serve as CEO of SUNS; overlapping management with AFC Gamma.
- Management agreement amended to restrict AFC Gamma investments to cannabis loans only, effective upon spin-off.

## SEC filing metadata
- accession: 0001822523-24-000011
- form_type: 8-K
- ticker: AFCG
- cik: 0001822523
- company_name: Advanced Flower Capital Inc.
- filed_at: 2024-02-22T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1822523/000182252324000011/0001822523-24-000011-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1822523/000182252324000011/afcg-20240222.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001822523-24-000011
- JSON: https://secwatch.observer/filing/0001822523-24-000011.json
- Plain text: https://secwatch.observer/filing/0001822523-24-000011.txt

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