---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-23-006051"
form_type: "8-K"
ticker: "AFCG"
cik: "0001822523"
company_name: "Advanced Flower Capital Inc."
filed_at: "2023-09-12T23:59:59+00:00"
generated_at: "2026-06-10T21:17:57.156508+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# AFC Gamma expands investment guidelines to non-cannabis CRE; director Kalikow resigns

## Summary
- Management agreement amended to permit investments in mezzanine loans and non-cannabis commercial real estate, subject to a 35% asset cap.
- Jonathan Kalikow resigned as director, Head of Real Estate, and Investment Committee member, effective September 11, 2023.
- Resignation is voluntary and not due to any dispute; company will recommend accelerated vesting of Kalikow's restricted stock.
- Kalikow no longer holds equity in Parent Manager; Leonard Tannenbaum now ~79% owner, Robyn Tannenbaum ~11%.

## SEC filing metadata
- accession: 0001829126-23-006051
- form_type: 8-K
- ticker: AFCG
- cik: 0001822523
- company_name: Advanced Flower Capital Inc.
- filed_at: 2023-09-12T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1822523/000182912623006051/0001829126-23-006051-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1822523/000182912623006051/afcgammainc_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-23-006051
- JSON: https://secwatch.observer/filing/0001829126-23-006051.json
- Plain text: https://secwatch.observer/filing/0001829126-23-006051.txt

## Key facts
- Executive change
  Jonathan Kalikow resigned as Director and Head of Real Estate at Advanced Flower Capital Inc..
  - Action: resigned
  - Role: Director and Head of Real Estate
  source text: On September 11, 2023 , effective as of such date, Jonathan Kalikow resigned from each of his officer and director positions with the Company and each of its subsidiaries
  evidence_url: https://www.sec.gov/Archives/edgar/data/1822523/000182912623006051/0001829126-23-006051-index.htm
- Material Agreements
  Advanced Flower Capital Inc. amended Management Agreement Amendment with AFC Management, LLC (effective 2023-09-11).
  - Action: amendment
  - Counterparty: AFC Management, LLC
  - Effective: 2023-09-11
  source text: On September 11, 2023, AFC Gamma, Inc. (the “Company”) entered into an amendment (the “Management Agreement Amendment”) to the Company’s Amended and Restated Management Agreement, dated January 14, 2021, between the Company and AFC Management, LLC (the “Manager”), as amended
  evidence_url: https://www.sec.gov/Archives/edgar/data/1822523/000182912623006051/0001829126-23-006051-index.htm

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