---
schema_version: "secwatch.filing_event.v1"
accession: "0001822523-25-000028"
form_type: "8-K"
ticker: "AFCG"
cik: "0001822523"
company_name: "Advanced Flower Capital Inc."
filed_at: "2025-08-14T23:59:59+00:00"
generated_at: "2026-05-17T13:22:22.218265+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# AFC reports Q2 GAAP net loss of $13.2M; proposes conversion from REIT to BDC

## Summary
- Q2 GAAP net loss of $13.2M ($0.60 per share); Distributable Earnings of $3.4M ($0.15 per share).
- Board expanded investment mandate to include non-cannabis middle market loans and ancillary cannabis businesses.
- Intends to convert from mortgage REIT to BDC, subject to shareholder approval of a new advisory agreement.
- Paid Q2 dividend of $0.15 per share on July 15, 2025; same as prior quarter.

## SEC filing metadata
- accession: 0001822523-25-000028
- form_type: 8-K
- ticker: AFCG
- cik: 0001822523
- company_name: Advanced Flower Capital Inc.
- filed_at: 2025-08-14T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1822523/000182252325000028/0001822523-25-000028-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1822523/000182252325000028/afcg-20250814.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001822523-25-000028
- JSON: https://secwatch.observer/filing/0001822523-25-000028.json
- Plain text: https://secwatch.observer/filing/0001822523-25-000028.txt

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