AFC Gamma amends credit agreement to expand borrowing base with cash account

Advanced Flower Capital Inc.

Amends Loan and Security Agreement to add Borrowing Base Cash Account at East West Bank; funds in account count 100% toward borrowing base.
Borrowing base now includes 50% of eligible loan receivables principal plus 100% of cash in new blocked account, minus discounts and reserves.
Consented to delay joinder of subsidiary CRE South, LLC as guarantor until August 1, 2024.
All representations and warranties reaffirmed; no default event continuing as of March 26, 2024.
Amendment effective upon opening of cash account, delivery of control agreement, and execution of amendment.

Key facts

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Advanced Flower Capital Inc. amended Amendment with the lenders party thereto and the lead arranger, bookrunner and administrative agent party thereto (effective 2024-03-26).

Action: amendment
Agreement: credit facility
Counterparty: the lenders party thereto and the lead arranger, bookrunner and administrative agent party thereto
Effective: 2024-03-26

Exact text from the filing

On March 26, 2024, AFC Gamma, Inc., a Maryland corporation (the “Company”) entered into an amendment (the “Amendment”) to the Loan and Security Agreement, dated as of April 29, 2022, by and among the lenders party thereto and the lead arranger, bookrunner and administrative agent party thereto.

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Source: SEC EDGAR

accession 0001829126-24-002012

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