secwatch.observer — SEC 8-K summary
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Issuer:     Advanced Flower Capital Inc. (AFCG)
CIK:        0001822523
Form:       8-K
Filed at:   2024-08-07T23:59:59+00:00
Accession:  0001822523-24-000038
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AFC Gamma Q2 net income $16.4M ($0.80/sh); distributable earnings $0.56/sh; dividend $0.48/sh
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- GAAP net income of $16.4M, or $0.80 per basic share, for Q2 2024.
- Distributable Earnings (non-GAAP) of $11.4M, or $0.56 per basic share.
- Paid regular dividend of $0.48 per common share on July 15, 2024; $9.9M total distribution.
- Completed spin-off of commercial real estate portfolio on July 9, 2024, becoming pure-play cannabis lender.
- On track to meet or exceed $100M origination goal for 2024; reduced reserves and increased book value.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1822523/000182252324000038/0001822523-24-000038-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1822523/000182252324000038/afcg-20240807.htm
  HTML page:      https://secwatch.observer/filing/0001822523-24-000038

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer