Highest-materiality recent filing
Advanced Flower Capital reports Q1 NII of $0.21/share, NAV rises to $7.90; authorizes $5M buyback
GAAP NII $4.8M ($0.21/share); net increase in net assets from operations $11.4M ($0.49/share)
AFC expands revolving credit facility to $80M with $30M new commitment from existing lender
Eighth Amendment increases revolver commitments by $56M to $106M temporarily, then resets to $80M after April 10, 2026.
Advanced Flower Capital completes conversion from REIT to BDC effective Jan 1, 2026
Company now regulated under 1940 Act as BDC; investment flexibility expanded beyond real estate-backed loans.
AFCG Q3 2025: GAAP net loss $12.5M; shareholders approve REIT-to-BDC conversion
GAAP net loss of $12.5M ($0.57/share); Distributable Earnings of $3.5M ($0.16/share).
Advanced Flower Capital shareholders approve conversion to BDC, expected Q1 2026
Shareholders voted 13.2M for, 0.5M against to approve new 1940 Act-compliant investment advisory agreement.
AFC reports Q2 GAAP net loss of $13.2M; proposes conversion from REIT to BDC
Q2 GAAP net loss of $13.2M ($0.60 per share); Distributable Earnings of $3.4M ($0.15 per share).
Advanced Flower Capital expands revolving credit facility to $50M with additional $20M commitment
Credit facility increased from $30M to $50M via $20M additional commitment from existing FDIC-insured bank.
Advanced Flower Capital Q1 GAAP net income $4.1M ($0.18/sh); distributable earnings $4.5M ($0.21/sh)
GAAP net income of $4.1 million ($0.18 per basic share) for Q1 2025.
AFC renews senior secured credit facility with $100M expansion option, maturity extended to 2028
Credit facility renewed with lead commitment from FDIC-insured bank >$75B assets.
Advanced Flower Capital Q4 2024 GAAP net loss $1.0M; distributable earnings $0.29/share
Q4 2024 GAAP net loss of $(1.0) million or $(0.05) per basic share.
Advanced Flower Capital enters $40M unsecured revolving credit facility with affiliate of Chairman
$40M commitment from AFC Finance, LLC, wholly owned by Chairman Leonard M. Tannenbaum.
Advanced Flower Capital Q3 GAAP net income $1.4M, distributable earnings $0.35/share, dividend $0.33
GAAP net income $1.4M ($0.06 per basic share); Distributable Earnings $7.2M ($0.35 per basic share).
AFC Gamma Q2 net income $16.4M ($0.80/sh); distributable earnings $0.56/sh; dividend $0.48/sh
GAAP net income of $16.4M, or $0.80 per basic share, for Q2 2024.
AFC Gamma completes spin-off of CRE business into SUNS; holders get 1 SUNS per 3 AFCG shares
Distribution of 1 SUNS common share for every 3 AFCG shares held as of July 8, 2024 record date; effective July 9, 2024.
AFC Gamma to spin off CRE portfolio as Sunrise Realty Trust; distribution July 9, 2024
Record date July 8, 2024; one SUNS share for every three AFCG shares held; distribution expected July 9, 2024.
AFC Gamma Q1 GAAP net loss $0.1M; distributable earnings $0.49/share; dividend $0.48
GAAP net loss of $(0.1) million ($(0.01) per share); Distributable Earnings of $10.0M ($0.49/share).
AFC Gamma reports Q4 GAAP net loss of $9.2M, declares $0.48 Q1 dividend
Q4 2023 GAAP net loss $(9.2)M ($(0.45)/share); Distributable Earnings $10.0M ($0.49/share).
AFC Gamma to spin off commercial real estate lending into standalone public REIT SUNS
$115M of CRE loans and cash to be contributed to SUNS; AFC Gamma retains ~$330M cannabis loan portfolio.
AFC Gamma reports Q3 2023 GAAP net income $0.39/share; appoints Daniel Neville as CEO
GAAP net income $8.0M ($0.39 per basic share); Distributable Earnings $9.9M ($0.49 per share).
AFC Gamma names Daniel Neville CEO; Tannenbaum becomes Executive Chairman and CIO
Daniel Neville appointed CEO effective Nov 13, 2023, succeeding Leonard Tannenbaum.
AFC Gamma expands investment guidelines to non-cannabis CRE; director Kalikow resigns
Management agreement amended to permit investments in mezzanine loans and non-cannabis commercial real estate, subject to a 35% asset cap.
AFC Gamma Q2 2023 GAAP net income $12.1M ($0.59/share); declares $0.48 dividend
GAAP net income of $12.1M, or $0.59 per basic weighted average common share.
AFC Gamma declares $0.48 dividend, authorizes $20M buyback, updates loan portfolio
Dividend of $0.48/share for Q ending June 30, 2023; payable July 14 to record June 30; annual run rate $1.92.
AFC Gamma Q1 GAAP net income $10.0M ($0.49/share), declares $0.56 dividend
GAAP net income $10.0M ($0.49 per basic share); Distributable Earnings $11.6M ($0.57 per share).
AFC Gamma names Brandon Hetzel CFO, Brett Kaufman to depart April 17
Brett Kaufman's employment as CFO/Treasurer terminates effective April 17, 2023; severance includes 12 months base salary, target bonus, COBRA, and accelerated vesting.
Q4 2022 GAAP net income $2.9M ($0.14 per basic share); Distributable Earnings $12.6M ($0.62 per share).
AFC Gamma Q3 net income $11.5M ($0.57/share), up 45% YoY; distributable earnings $0.59/share
Net income $11.5M ($0.57 basic EPS), up 45% YoY; distributable earnings $11.8M ($0.59), up 64%.
AFC Gamma Q2 net income $11.4M, dividend up 47% to $0.56/share
Net income of $11.4M ($0.58 per basic share) vs $8.6M in Q2 2021; distributable earnings $13.6M ($0.69/share).
AFC Gamma Q1 net income $10.2M ($0.53); dividend raised 10% to $0.55/share
Net income $10.2M ($0.53/share); distributable earnings $11.9M ($0.62/share), up 271% YoY.
AFC Gamma reports full-year 2021 net income of $21.0M; raises quarterly dividend 10% to $0.55
Net income of $21.0M ($1.57 per basic share) and distributable earnings of $24.7M ($1.85 per share) for FY2021.
Additionally, Mr. Tannenbaum transitioned from his role as Executive Chairman of the Company to Chairman of the Company on such date.
Effective on October 21, 2024, Leonard M. Tannenbaum resigned as Chief Investment Officer of Advanced Flower Capital Inc.
Effective on October 21, 2024, the Company’s Board of Directors (the “Board”) appointed Robyn Tannenbaum as the Chief Investment Officer of the Company.
Jodi Hanson Bond and James Fagan resigned from the Company’s Board of Directors
Jodi Hanson Bond and James Fagan resigned from the Company’s Board of Directors
On May 20, 2024, Jodi Hanson Bond and James Fagan notified AFC Gamma, Inc. (the “Company”) of their respective decisions to resign as directors of the Company, effective upon the completion of the Company’s spin-off of its separate commercial real estate portfolio into an independent, publicly-traded REIT, Sunrise Realty Trust, Inc. (“SUNS”).
On May 20, 2024, Jodi Hanson Bond and James Fagan notified AFC Gamma, Inc. (the “Company”) of their respective decisions to resign as directors of the Company, effective upon the completion of the Company’s spin-off of its separate commercial real estate portfolio into an independent, publicly-traded REIT, Sunrise Realty Trust, Inc. (“SUNS”).
On October 26, 2023, Mr. Tannenbaum was appointed by the Board of Directors (the “Board”) of the Company as the Executive Chairman of the Board and the Company’s Chief Investment Officer.
On October 26, 2023, the Board appointed Daniel Neville as the Chief Executive Officer of the Company and a member of its Investment Committee, effective as of November 13, 2023.
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
On June 13, 2023, AFC Gamma, Inc. (the “Company”) appointed James C. Fagan to serve as a director in a vacant seat on the Company’s Board of Directors (the “Board”), effective immediately.
On March 17, 2023, the Company’s Board of Directors (the “Board”) appointed Brandon Hetzel as the Chief Financial Officer and Treasurer of the Company, effective on such date
Max materiality 0.85 · Median 0.60 · Most common event earnings