---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-26-000032"
form_type: "8-K"
ticker: "AFCG"
cik: "0001822523"
company_name: "Advanced Flower Capital Inc."
filed_at: "2026-01-05T23:59:59+00:00"
generated_at: "2026-05-16T11:42:27.980140+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Advanced Flower Capital completes conversion from REIT to BDC effective Jan 1, 2026

## Summary
- Company now regulated under 1940 Act as BDC; investment flexibility expanded beyond real estate-backed loans.
- New investment advisory agreement with AFC Management LLC replaces prior 2021 management agreement; base management fee 1.50% of avg gross assets, incentive fee with 6% hurdle and 17.5% catch-up.
- Pete Sattelmair appointed assistant treasurer and principal financial officer effective March 16, 2026 via PINE Advisors services agreement.
- Prior REIT ownership restrictions removed; new bylaws adopted with majority voting standard in contested director elections.
- No change to Nasdaq listing under ticker AFCG; prior management agreement terminated without termination fee.

## SEC filing metadata
- accession: 0001829126-26-000032
- form_type: 8-K
- ticker: AFCG
- cik: 0001822523
- company_name: Advanced Flower Capital Inc.
- filed_at: 2026-01-05T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 1.02, 3.03, 5.02, 5.03, 5.05, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1822523/000182912626000032/0001829126-26-000032-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1822523/000182912626000032/afc_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-26-000032
- JSON: https://secwatch.observer/filing/0001829126-26-000032.json
- Plain text: https://secwatch.observer/filing/0001829126-26-000032.txt

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