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.
Advanced Flower Capital Inc. filings document the regulatory record of a Nasdaq-listed business development company that makes direct senior debt investments for lower middle-market borrowers. Its 8-K reports furnish operating results, financial presentations, net investment income, NAV, Distributable Earnings, distributions, investment fundings, and leverage disclosures.
The company’s filings also cover material definitive agreements and direct financial obligations, including revolving credit agreements and amendments to its loan and security agreement. Proxy and shareholder-vote materials document governance matters, director elections, auditor ratification, the investment advisory agreement with AFC Management, LLC, reduced asset coverage matters under the Investment Company Act of 1940, and capital-structure information for AFCG common stock.
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. (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 $20,000,000 that matures on August 1, 2028. The lender is indirectly wholly owned by Chairman Leonard M. Tannenbaum and related family trusts, making it an affiliate transaction.
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 2028.
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.
AFC Management, LLC, identified as an adviser to Advanced Flower Capital Inc., has filed an initial insider ownership report on Form 3. The filing indicates that the reporting person beneficially owns no securities of Advanced Flower Capital Inc., with both the non-derivative and derivative securities tables showing no holdings. The form is filed by a single reporting person and is signed by Brandon Hetzel in his capacity as Chief Financial Officer and Treasurer.
Advanced Flower Capital Inc. reported an insider purchase by a director and 10% owner. On 12/11/2025, the reporting person bought 25,000 shares of common stock at a weighted average price of $3.05 per share in open-market transactions.
After the trade, the reporting person beneficially owned 5,861,098 shares directly, 218,907 shares held by a spouse, and 180,400 shares held by the Tannenbaum Family Foundation, where the reporting person serves as President and disclaims beneficial ownership except for any pecuniary interest. The reported price reflects multiple trades executed between $3.03 and $3.10.
Advanced Flower Capital Inc. (AFCG) reported a Form 4 showing that a director acquired common stock through an equity grant. On November 20, 2025, the director received 5,474 shares of AFCG common stock at a price of $2.74 per share. Following this transaction, the director beneficially owned 24,539 shares on a direct basis.
The filing explains that the award represents restricted stock granted under the company’s Stock Incentive Plan, and that this restricted stock was fully vested as of November 20, 2025. The form was filed for one reporting person and signed by an attorney-in-fact on the reporting person’s behalf.
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.