secwatch.observer — SEC 8-K summary
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Issuer:     Advanced Flower Capital Inc. (AFCG)
CIK:        0001822523
Form:       8-K
Filed at:   2022-05-02T23:59:59+00:00
Accession:  0001829126-22-009280
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AFC Gamma enters $60M senior secured revolver with East West Bank; replaces $75M affiliate facility
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- New $60M revolving credit facility (expandable to $100M) with East West Bank as lead arranger and agent.
- Interest rate is greater of base rate +0.50% or 4.50%; secured by certain loan obligations.
- Covenants: minimum liquidity $5M, annual debt service coverage ≥1.50x, secured debt ≤25% of consolidated assets.
- Prior $75M revolving credit agreement with affiliate AFC Finance, LLC terminated effective April 29, 2022.
- Facility may be drawn, repaid, and redrawn subject to a borrowing base based on eligible loan obligations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1822523/000182912622009280/0001829126-22-009280-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1822523/000182912622009280/afcg_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-22-009280

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