Welcome to our dedicated page for Advanced Flower Capital news (Ticker: AFCG), a resource for investors and traders seeking the latest updates and insights on Advanced Flower Capital stock.
Advanced Flower Capital Inc. (Nasdaq: AFCG) generates news primarily through its activities as a specialty lender to cannabis-related and middle-market businesses and through its transition from a commercial mortgage REIT to a business development company (BDC). Based in West Palm Beach, Florida and externally managed by AFC Management, LLC, the company focuses on senior secured loans and other forms of debt to U.S. cannabis operators in compliant states, ancillary cannabis businesses, and select companies outside the cannabis industry.
News updates for AFCG often center on quarterly and annual financial results, including GAAP net income or loss and the company’s non-GAAP performance measure, Distributable Earnings. Releases commonly discuss portfolio performance, non-accrual positions, loan repayments and the Board’s decisions on quarterly cash dividends, which are informed in part by Distributable Earnings and other factors.
Another recurring theme in Advanced Flower Capital’s news is its strategic and regulatory evolution. The company has announced the expansion of its investment mandate beyond real estate-backed loans, the intention and subsequent approval to convert from a REIT to a BDC, and shareholder votes on key proposals such as a new investment advisory agreement and reduced asset coverage requirements under the Investment Company Act of 1940. These developments are accompanied by commentary from company leadership on investment opportunities and risk-adjusted return objectives.
Operational and financing updates also appear in AFCG’s news flow, including changes to its senior secured revolving credit facility and its use to fund commitments to borrowers, originate or participate in commercial loans to cannabis operators, and support working capital. Investors following AFCG’s news can review earnings releases, dividend declarations, credit facility announcements and regulatory milestones to understand how the company is managing its loan portfolio and capital structure under the REIT and, more recently, BDC frameworks.
Advanced Flower Capital (AFCG) has announced a $15 million senior secured credit facility to Story of Ohio , a subsidiary of Story Companies. The funding will support Story's expansion in Ohio's adult-use cannabis market through the acquisition and development of dispensaries.
The credit facility consists of a first-lien term loan secured by Story of Ohio's assets, including cannabis licenses and real estate in both Ohio and Georgia. Story Companies, a private multi-state cannabis operator, is led by CEO Jason Vedadi and has a track record of successful execution in the volatile cannabis market.
AFC will hold the entire credit facility, with AFC Agent serving as the transaction agent. The partnership aims to enable Story to capitalize on key market opportunities in Ohio's growing cannabis market.
Advanced Flower Capital (AFCG) has announced it will release its Q4 and full-year 2024 financial results on Thursday, March 13, 2025, before market open. The company will host a conference call and webcast at 10:00 am ET on the same day to discuss the results.
Investors can access the webcast through the company's Investor Relations website at investors.advancedflowercapital.com. Conference call participation requires advance registration. A replay of the event will be available one hour after its conclusion. The company distributes earnings releases through its website and email lists, with interested parties able to sign up for email updates.
Advanced Flower Capital (AFCG) has declared a quarterly dividend of $0.33 per share for Q4 2024, maintaining the same level as the previous quarter. The dividend will be paid on January 15, 2025 to stockholders of record as of December 31, 2024.
AFCG operates as a commercial mortgage REIT, providing institutional loans to state-compliant cannabis operators in the U.S. The company specializes in originating, structuring, and managing loans ranging from $10 million to over $100 million, secured by real estate assets, license value, and cash flows.
Advanced Flower Capital reported Q3 2024 financial results with GAAP net income of $1.4 million ($0.06 per share) and Distributable Earnings of $7.2 million ($0.35 per share). The company paid a quarterly dividend of $0.33 per share. CEO Daniel Neville highlighted their success in surpassing the 2024 target of $100 million in new originations, demonstrating strong portfolio management and ability to support high-quality operators in key markets.
AFC Gamma, Inc. (Nasdaq:AFCG), operating as Advanced Flower Capital, has announced its plans to report earnings for the quarter ended September 30, 2024, on Wednesday, November 13, 2024. The company will host a conference call at 10:00 am Eastern Time on the same day to discuss its quarterly financial results.
Interested parties can participate in the call through a live audio webcast available on the Investor Relations section of AFC's website. For telephone participation, registration is required in advance. The complete webcast will be archived for 90 days on AFC's website.
Advanced Flower Capital is a leading commercial mortgage REIT providing institutional loans to state law compliant cannabis operators in the U.S. The company originates, structures, and underwrites loans ranging from $10 million to over $100 million, typically secured by real estate assets, license value, and cash flows.
AFC Gamma, Inc. (Nasdaq:AFCG) has committed and funded $41 million to a senior secured credit facility for Story of Maryland, (Story MD), a leading vertically integrated cannabis operator in Maryland. This transaction has helped AFC exceed its 2024 goal of $100 million in new originations. Story MD plans to use the proceeds to refinance existing debt and provide working capital.
Daniel Neville, CEO of AFC, emphasized the company's focus on reinvigorating its origination engine and highlighted Story Cannabis as an example of Cannabis 3.0 lending opportunities. Jason Vedadi, CEO of Story Cannabis, stated that the financing will strengthen Story's balance sheet and support growth initiatives.
The credit facility consists of a first-lien term loan secured by Story MD's real property, cannabis licenses, and operations in Maryland. AFC Gamma, a commercial mortgage REIT, specializes in providing institutional loans to state law compliant cannabis operators in the U.S.
AFC Gamma, Inc. (Nasdaq: AFCG), a leading commercial mortgage REIT for cannabis operators, has announced its first post-spin dividend for the third quarter of 2024. The company's Board of Directors has declared a quarterly dividend of $0.33 per outstanding share of common stock, payable on October 15, 2024, to stockholders of record as of September 30, 2024.
AFC Gamma specializes in providing institutional loans to state law compliant cannabis operators in the U.S., with loan amounts ranging from $10 million to over $100 million. These loans are typically secured by quality real estate assets, license value, and cash flows. The company leverages its management team's extensive network and expertise in credit and cannabis to originate, structure, and underwrite these loans.
AFC Gamma (Nasdaq: AFCG) has announced significant financial moves in the cannabis industry:
1. A new $11 million senior secured credit facility for Private Company Q in Georgia, with $4.3 million funded at closing, to support cultivation, processing, and dispensary expansion.
2. An additional $5.5 million commitment to BeLeaf Medical in Missouri, expanding their credit facility to $26.1 million for acquiring two dispensaries.
3. A $1.8 million expansion of Sunburn Cannabis' credit facility in Florida, bringing it to $36.5 million for new dispensaries and cultivation capacity.
These transactions demonstrate AFC Gamma's strategy of deploying capital in restricted license states with favorable supply-demand dynamics, reinforcing its position as a leading commercial mortgage REIT in the cannabis sector.
AFC Gamma (NASDAQ:AFCG) reported strong Q2 2024 financial results, with GAAP net income of $16.4 million ($0.80 per share) and Distributable Earnings of $11.4 million ($0.56 per share). The company paid a dividend of $0.48 per share for Q2 2024. AFC Gamma has completed its transition to a pure-play cannabis lender after spinning off its commercial real estate portfolio on July 9, 2024. CEO Daniel Neville highlighted the company's strong performance, reduced reserves, and increased book value. AFC Gamma is on track to meet or exceed its $100 million origination goal for the year, positioning itself to capitalize on cannabis market opportunities.
AFC Gamma, Inc. (Nasdaq: AFCG), a leading commercial mortgage REIT for cannabis operators, has announced its second quarter 2024 earnings conference call scheduled for August 7, 2024 at 10:00 am Eastern Time. The company will report earnings for the quarter ended June 30, 2024. Interested parties can participate via a live audio webcast on AFC's website or through telephone registration.
AFC Gamma specializes in providing institutional loans ranging from $10 million to over $100 million to state law compliant cannabis operators in the U.S. These loans are typically secured by real estate assets, license value, and cash flows. The company leverages its management team's extensive network and expertise in credit and cannabis to originate, structure, and underwrite these loans.