Welcome to our dedicated page for Advanced Flower Capital SEC filings (Ticker: AFCG), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The SEC filings for Advanced Flower Capital Inc. (Nasdaq: AFCG) provide detailed insight into the company’s evolution from a commercial mortgage real estate investment trust to a business development company (BDC) and its ongoing lending activities. As a Maryland corporation based in West Palm Beach, Florida, Advanced Flower Capital files periodic and current reports that describe its loan portfolio, capital structure, governance arrangements and regulatory status.
Through this page, investors can review annual reports on Form 10-K and quarterly reports on Form 10-Q, which typically include information on GAAP net income or loss, the composition and performance of the loan portfolio, credit loss provisions, and the company’s non-GAAP measure, Distributable Earnings, as defined in its filings. These reports also discuss risk factors related to lending in the cannabis industry, concentration of loans, access to financing and the implications of operating under REIT and BDC regulatory frameworks.
Current reports on Form 8-K are particularly relevant for tracking material events at Advanced Flower Capital. Recent 8-K filings have covered the announcement of quarterly financial results, shareholder votes on proposals to facilitate the conversion from a REIT to a BDC, and the adoption of a 1940 Act-compliant investment advisory agreement with AFC Management, LLC. Such filings also document the application of reduced asset coverage requirements permitted for BDCs and the effective date of the company’s conversion.
Investors can also use this page to access proxy materials such as the definitive proxy statement on Schedule 14A, which explains the rationale for the conversion to a BDC, outlines changes to the company’s investment strategy and regulatory obligations, and summarizes risks and considerations associated with the new structure. In addition, filings related to dividends, credit facilities and other financing arrangements help readers understand how Advanced Flower Capital funds and manages its senior secured loans and other debt investments.
Stock Titan’s platform supplements these documents with AI-powered summaries that highlight key points from lengthy filings, helping readers quickly identify items such as changes in leverage, updates to the investment mandate, and material developments affecting AFCG’s shareholders.
Advanced Flower Capital Inc. filed an initial insider ownership report for officer Peter Sattelmair, who serves as Principal Financial Officer. This Form 3 establishes his status as a reporting person under SEC rules. The filing does not list any specific transactions or derivative positions.
Advanced Flower Capital Inc. director and 10% owner Leonard M. Tannenbaum reported open-market purchases of a total of 51,808 shares of Common Stock between $2.58 and $2.60 per share, increasing his direct holdings to 6,047,389 shares. He also reports indirect holdings of 218,907 shares held by his spouse and 180,400 shares held by the Tannenbaum Family Foundation, while disclaiming beneficial ownership of those indirect positions except to the extent of any pecuniary interest.
Advanced Flower Capital Inc. shareholder Leonard M. Tannenbaum filed Amendment No. 5 to his Schedule 13D, reporting beneficial ownership of 6,175,981 common shares, equal to 26.2% of the class. His stake rose about 1.3 percentage points after open-market purchases funded with personal cash.
He directly holds 5,995,581 shares and is attributed 180,400 shares held by the Tannenbaum Family Foundation, where he serves as President and disclaims beneficial ownership except for any pecuniary interest. The reported amount excludes 218,907 shares held by his spouse, over which he also disclaims beneficial ownership.
Advanced Flower Capital Inc. director and 10% owner Leonard M. Tannenbaum reported open-market purchases of a total of 104,213 shares of common stock. He bought 2,000 shares on March 10, 2026 at a weighted average price of $2.57 and 102,213 shares on March 9, 2026 at a weighted average price of $2.54, with trade prices ranging from $2.48 to $2.60 according to footnotes. Following these transactions, he directly holds 5,995,581 common shares. The filing also notes indirect holdings of 218,907 shares held by his spouse and 180,400 shares held by the Tannenbaum Family Foundation, for which he disclaims beneficial ownership except to the extent of any pecuniary interest.
Advanced Flower Capital Inc. director and 10% owner Leonard M. Tannenbaum reported open-market purchases of Common Stock. He bought a total of 30,270 shares on March 5–6, 2026 at weighted average prices of about $2.44–$2.47 per share, increasing his directly held stake to 5,891,368 shares.
The filing also notes indirect holdings: 218,907 shares held by his spouse and 180,400 shares held by the Tannenbaum Family Foundation. Tannenbaum disclaims beneficial ownership of the spouse-held shares and of the foundation-held shares except to the extent of any pecuniary interest.
Advanced Flower Capital Inc. reported mixed results for the fourth quarter and full year 2025 while completing its transition to a business development company structure. For the fourth quarter, the company generated GAAP net income of $0.9 million, or $0.04 per basic share, but posted negative Distributable Earnings of $(2.8) million, or $(0.12) per basic share.
For full year 2025, AFC recorded a GAAP net loss of $(20.7) million, or $(0.95) per basic share, while Distributable Earnings were positive at $8.7 million, or $0.39 per basic share. Management highlighted its focus on resolving legacy positions and redeploying capital following the January 1, 2026 conversion from a REIT to a BDC.
The board declared a first quarter 2026 common stock dividend of $0.05 per share, payable on April 15, 2026 to shareholders of record on March 31, 2026. Total assets were $275.6 million and shareholders’ equity was $175.6 million as of December 31, 2025.
Advanced Flower Capital Inc. (AFCG) details a major transition from a mortgage REIT focused on cannabis real estate lending to a business development company (BDC) regulated under the 1940 Act, effective January 1, 2026. The company is now externally managed by AFC Management, LLC under a new Advisory Agreement and supported by an Administration Agreement.
Following the conversion, AFCG can invest across a broader universe of lower middle‑market borrowers, including non‑cannabis and ancillary cannabis businesses, without prior real‑property collateral constraints. Management highlights competitive strengths such as an experienced team, a sizeable loan origination platform and insider ownership of about 26.6% of common stock. As of February 25, 2026, the loan origination pipeline under review was approximately $1.4 billion of potential commitments.
Advanced Flower Capital Inc. (AFCG) received a Schedule 13G filing from a coordinated investor group led by Clint D. Coghill, disclosing a significant passive ownership position in its common stock.
As of the event date, Stoney Lonesome HF LP directly beneficially owned 1,309,040 shares, or about 5.8% of AFCG’s outstanding common stock. Drake Helix Holdings, LLC directly beneficially owned 22,200 shares, or about 0.1% of the class. Based on 22,594,541 shares outstanding as of November 7, 2025, CDC Financial, Inc. and Clint D. Coghill may each be deemed to beneficially own a total of 1,331,240 shares, representing approximately 5.9% of the company’s common stock through their control of these investment entities.
The reporting persons certify that the securities were not acquired and are not held for the purpose of changing or influencing control of AFCG, indicating a passive investment intent.
Advanced Flower Capital Inc. entered into an unsecured revolving credit agreement with TCGSL LLC, providing a committed borrowing capacity of
Borrowings under the facility may be used for general corporate purposes, including portfolio investments, giving the company additional flexibility to fund its investment activities and operations through
Advanced Flower Capital Inc. entered into Amendment Number Six to its existing Loan and Security Agreement originally dated April 29, 2022. In this amendment, the company remains the borrower, with the same group of lenders and the same lead arranger, bookrunner and administrative agent. The filing notes that the Sixth Amendment includes provisions that are relevant to the company’s recent conversion from a real estate investment trust to a business development company, aligning the credit agreement with its new regulatory and operating framework.
The company also reports that this amendment gives rise to a direct financial obligation or an obligation under an off-balance sheet arrangement, by cross-referencing the amended loan terms. The full text of the Sixth Amendment is filed as an exhibit, allowing readers to review the detailed changes to the loan documentation.