Advanced Flower Capital Inc SEC Filings

Advanced Flower Capital Inc. (AFCG) reported an insider equity award for one of its directors. On November 20, 2025, the director acquired 5,474 shares of common stock as an award of restricted stock under the company’s Stock Incentive Plan. The filing notes that this restricted stock is fully vested as of November 20, 2025, meaning the director’s ownership rights are not subject to further service-based vesting conditions.

After this transaction, the director beneficially owns 9,511 shares of AFCG common stock, held directly. The transaction price reported for the award is $2.74 per share. This is a routine Form 4 disclosure showing equity-based compensation to a board member, which marginally increases insider ownership.

Advanced Flower Capital Inc. (AFCG) reported an insider equity grant to a director. On November 20, 2025, the director acquired 5,474 shares of common stock as restricted stock under the company’s Stock Incentive Plan. The filing notes this restricted stock is fully vested as of that date and was recorded at a price of $2.74 per share.

Following this grant, the director beneficially owns 9,511 shares of AFCG common stock held directly. This is a routine equity-based compensation event that modestly increases the director’s ownership stake and further aligns their interests with other shareholders.

Advanced Flower Capital Inc. (AFCG) director reported acquiring additional common stock through an equity grant. On November 20, 2025, the director received 5,474 shares of fully vested restricted stock under the company’s stock incentive plan at a price of $2.74 per share. Following this grant, the director beneficially owns 16,196 shares of AFCG common stock held directly.

Advanced Flower Capital Inc. (AFCG) reported an insider equity award for its Chief Executive Officer. On 11/20/2025, the CEO acquired 91,240 shares of common stock as restricted stock granted under the company’s Stock Incentive Plan, fully vested as of that date, at a price of $2.74 per share. Following this grant, the CEO beneficially owns 317,889 shares of AFCG common stock in direct ownership. This filing is a disclosure of executive equity compensation and does not reflect an open-market purchase or sale.

Advanced Flower Capital Inc. (AFCG) reported an insider equity award for its President and CIO on a Form 4. On November 20, 2025, the executive acquired 91,240 shares of common stock as fully vested restricted stock granted under the company’s stock incentive plan at a price of $2.74 per share.

Following this transaction, the executive directly held 218,907 shares of AFCG common stock. Additional shares are reported as indirectly owned through the executive’s spouse and the Tannenbaum Family Foundation, but the executive disclaims beneficial ownership of those securities except to the extent of any pecuniary interest.

Advanced Flower Capital Inc. (AFCG) director and 10% owner reported acquiring 729,927 shares of common stock on November 20, 2025 as a fully vested restricted stock grant under the company’s stock incentive plan, at a reported price of $2.74 per share. Following this transaction, the reporting person directly owns 5,692,098 shares of AFCG common stock.

In addition to these directly held shares, the filing shows indirect holdings of 218,907 shares held by the reporting person’s spouse and 180,400 shares held by the Tannenbaum Family Foundation, where the reporting person serves as President. The reporting person disclaims beneficial ownership of the spouse and foundation shares except to the extent of any pecuniary interest.

Advanced Flower Capital Inc. (AFCG) Chief Executive Officer reported an open‑market purchase of company stock. On 11/18/2025, the reporting person bought 17,000 shares of common stock in a single reportable transaction coded "P" for purchase. The weighted average price was $2.81 per share, with individual trades executed between $2.79 and $2.81.

Following this transaction, the reporting person beneficially owned 226,649 shares of AFCG common stock, held directly. The filer has undertaken to provide full trade details, including the number of shares and exact prices for each execution, to the SEC staff, the issuer, or any security holder upon request.

Advanced Flower Capital Inc. furnished an update on operations and financial condition by announcing it issued a press release for the quarter ended September 30, 2025. The press release is included as Exhibit 99.1. The information under Item 2.02, including the exhibit, is being furnished and is not deemed filed or incorporated by reference except as expressly set forth.

Advanced Flower Capital Inc. (AFCG) reported Q3 2025 results marked by higher credit costs and a swing to losses. Interest income was $8.16 million for the quarter, with a net loss of $12.49 million (vs. income a year ago). Year‑to‑date, the company recorded a net loss of $21.59 million.

The CECL reserve rose to $51.17 million as of September 30, 2025 (from $30.42 million at December 31, 2024), reflecting credit deterioration, including three nonaccrual loans with amortized cost of about $104.2 million. A loan held at fair value tied to Private Company A remained on nonaccrual with $50.98 million outstanding principal and $16.92 million fair value, driving $11.45 million of unrealized losses year‑to‑date.

Liquidity declined as cash was $45.12 million (vs. $103.61 million at year‑end). Debt included $22.0 million outstanding on the revolver and $89.06 million net in 2027 senior notes. The revolver maturity was extended to April 29, 2028 with an increased rate floor. AFCG expanded its investment mandate beyond cannabis to ancillary and other industries, and on November 6, 2025 shareholders approved a new investment advisory agreement necessary for the planned REIT‑to‑BDC conversion.