Advanced Flower Capital Inc Stock Price, News & Analysis

AFC Foundation, established by the management of Advanced Flower Capital, has made its first charitable donations to three nonprofits: Pennsylvania Court Appointed Special Advocates Association, Yo Soy Ella, and The Weldon Project. These contributions aim to support local communities impacted by the cannabis industry. President Robyn Tannenbaum emphasized the Foundation's commitment to fostering positive social change through collaboration with local operators. The donations will assist initiatives focused on serving vulnerable populations and raising awareness about cannabis-related injustices.

AFC Gamma, Inc. (NASDAQ:AFCG) reported strong Q1 2022 results with a net income of $10.2 million or $0.53 per share and distributable earnings of $11.9 million or $0.62 per share. The company declared a $0.55 dividend on April 15, a 10% increase from the previous quarter. As of March 31, book value stood at $17.04 per share. Notably, total loan commitments reached $482.7 million with a yield to maturity of 19%. Total net interest income surged 261% year-on-year, while expenses rose by 108%.

AFC Gamma (NASDAQ:AFCG) has announced a new senior secured revolving credit facility of $60 million, replacing its previous $75 million credit facility. The new credit line, which can be increased to $100 million, is backed by two FDIC-insured banks with $70 billion in assets. This facility aims to support unfunded commitments and facilitate commercial loans within the cannabis sector. The credit facility has a maturity date of April 29, 2025, and bears interest at a floating rate of Prime + 0.50%, subject to a floor of 4.00%.

AFC Gamma plans to report its Q1 earnings on May 10, 2022. The earnings call is scheduled for 10:00 AM ET and will be accessible via webcast or by phone. As a lender in the cannabis sector, AFC Gamma provides financing solutions to operators in legalized states, leveraging over 100 years of combined management experience in investment and credit. Investors can access the archived call on the company's website.

AFC Gamma, Inc. (NASDAQ:AFCG) announced a senior secured credit facility of $82.5 million to Bloom Medicinals Holding Company to support their expansion plans.

This funding will enable Bloom to repay existing debt, acquire a Level 1 Cultivation license in Ohio, and further bolster their working capital. CEO Leonard M. Tannenbaum highlighted this deal as a key to Bloom’s vertical integration in Ohio and Missouri. This is the third loan transaction between AFC Gamma and Bloom, showcasing their longstanding partnership in the evolving cannabis industry.

AFC Gamma Inc. (NASDAQ:AFCG) reported a strong performance for 2021, with a net income of $21.0 million or $1.57 per share. The company increased its dividend by 10% to $0.55 per share for Q1 2022 after a record of $24.7 million in distributable earnings. Total commitments rose 288% to $419.2 million, showcasing significant growth. In Q4 2021, net income was $7.0 million, and total net interest income surged by 22.1%. AFCG also completed a follow-on offering raising $63 million in capital, reinforcing its position as a leading lender in the cannabis sector.

AFC Gamma has expanded its credit facilities by $46.9 million, supporting three existing borrowers: Verano, Nature’s Medicines, and Natrabis. The commitments include $26.6 million to Verano, totaling $86.6 million; $15.3 million to Nature's Medicines, totaling $77.8 million; and $5 million to Natrabis, resulting in a total of $15.5 million. This strategic move aims to strengthen relationships and support the borrowers' growth as they expand operations across multiple states.

AFC Gamma, Inc. (NASDAQ:AFCG) plans to announce earnings for Q4 and the fiscal year ending December 31, 2021, on March 10, 2022. The company will host a conference call at 10:00 AM ET on the same date to discuss financial results. Interested parties can access the live audio webcast on AFC Gamma's website or by calling in. AFC Gamma specializes in providing lending solutions for established cannabis operators, with a senior management team boasting over 100 years of combined experience in investment management.

AFC Gamma has announced the appointment of Marnie Sudnow to its Board of Directors, expanding it to eight members. Sudnow brings over 20 years of experience in digital advertising and e-commerce, previously serving as Senior Vice President at Stylitics. Her expertise is expected to enhance the Board's perspective on investment opportunities in the cannabis industry. This move also aligns with AFC Gamma's commitment to board diversity, featuring increased female representation. CEO Leonard M. Tannenbaum emphasized the strategic value of Sudnow’s insights.