secwatch.observer — SEC 8-K summary
======================================

Issuer:     Advanced Flower Capital Inc. (AFCG)
CIK:        0001822523
Form:       8-K
Filed at:   2024-03-29T23:59:59+00:00
Accession:  0001829126-24-002012
Event type: debt
Sentiment:  neutral
Materiality: 0.35
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1822523/000182912624002012/0001829126-24-002012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1822523/000182912624002012/afcgamma_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-24-002012

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