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.
Leonard M. Tannenbaum, a director and listed 10% owner of Advanced Flower Capital Inc. (AFCG), purchased 79,665 shares on 09/05/2025 at a weighted average price of $4.56 per share (trades ranged $4.51–$4.61). After the transaction his direct beneficial ownership is reported as 4,962,171 shares. The filing also discloses 127,667 shares held by his spouse (disclaimed) and 180,400 shares held by the Tannenbaum Family Foundation, for which he serves as President (disclaimed except for pecuniary interest). The report was signed by an attorney-in-fact on 09/08/2025. No derivative transactions or additional material terms are reported in this Form 4.
Advanced Flower Capital Inc. (AFCG) reported an insider purchase by Chief Executive Officer and Director Daniel Neville. On 09/08/2025 Mr. Neville acquired 12,388 shares of the issuer's common stock at a weighted average price of $4.44 per share, bringing his total beneficial ownership to 209,649 shares. The Form 4 indicates the transaction code P and notes the trade executed in multiple fills priced between $4.40 and $4.45, with the filer offering to provide detailed trade-level information upon request. The filing was submitted by Gabriel A. Katz as attorney-in-fact and lists Neville's business address in West Palm Beach, FL.
Advanced Flower Capital director and 10% owner Leonard M. Tannenbaum reported purchases of company common stock on September 2 and 3, 2025. He acquired 36,096 shares on 09/02/2025 at a weighted average price of $4.49, bringing his direct beneficial ownership to 4,845,645 shares. He acquired 36,861 shares on 09/03/2025 at a weighted average price of $4.57, bringing his direct beneficial ownership to 4,882,506 shares. The filing discloses additional indirect holdings of 127,667 shares held by a spouse and 180,400 shares held by the Tannenbaum Family Foundation; the reporting person disclaims beneficial ownership of the spouse-held shares and limits beneficial ownership of the foundation shares to his pecuniary interest.
Leonard M. Tannenbaum amended his Schedule 13D for Advanced Flower Capital Inc. to report changes in his holdings of the issuer's common stock. The filing reports an aggregate beneficial ownership of 4,989,949 shares, representing 22.1% of the 22,594,541 shares outstanding as of August 13, 2025. The amendment states the Reporting Person purchased additional shares in open market transactions and also included 180,400 shares held by the Tannenbaum Family Foundation, which he disclaims beneficial ownership of except to the extent of any pecuniary interest. Previously reported options to acquire an aggregate of 1,906,958 shares were voluntarily forfeited for no value and are no longer exercisable. The filing notes the net effect of these changes is a decrease of approximately 5.5 percentage points in the Reporting Person's aggregate beneficial ownership since the prior amendment. Exhibits list Schedule A (transactions) and Schedule B (forfeited options).
Leonard M. Tannenbaum, a director and listed 10% owner of Advanced Flower Capital Inc. (AFCG), reported purchases of the company's common stock on August 27-28, 2025. He acquired 330,127 shares on 08/27/2025 at a weighted-average price of $4.81 and 144,399 shares on 08/28/2025 at a weighted-average price of $4.57, for a total of 474,526 shares reported in the filing. Following those transactions the report shows 4,665,150 shares beneficially owned after the 08/27 trades and 4,809,549 shares after the 08/28 trades. The filing also discloses 127,667 shares held by his spouse and 180,400 shares held by the Tannenbaum Family Foundation; Mr. Tannenbaum serves as President of the foundation and disclaims beneficial ownership of those holdings except to the extent of any pecuniary interest. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person on 08/29/2025.
Amendment No. 2 to a Schedule 13D reports that Leonard M. Tannenbaum beneficially owns 6,241,981 shares of Advanced Flower Capital Inc., representing 27.6% of the 22,594,541 shares outstanding as of August 13, 2025. The filing states Mr. Tannenbaum acquired additional Common Stock in multiple open market purchases since his prior Schedule 13D/A on July 2, 2024, using personal funds; those transactions are said to be listed on Schedule A. His holdings include 4,148,243 shares held directly, 186,780 shares of restricted stock and 1,906,958 shares issuable upon exercise of options exercisable within 60 days. The filing disclaims beneficial ownership of 180,400 shares held by the Tannenbaum Family Foundation and 211,827 shares held by his spouse.
Neville Daniel, Chief Executive Officer and director of Advanced Flower Capital Inc. (AFCG), purchased 10,000 shares of the company's common stock on 08/25/2025 at a weighted average price of $4.04 per share. Following the transaction, Mr. Daniel beneficially owned 197,261 shares. The Form 4 was filed indicating the transaction code "P" and includes a note that the trades were executed in multiple fills at prices ranging from $4.00 to $4.05; the reported $4.04 is the weighted average. The filing was signed by an attorney-in-fact on 08/26/2025.
Insider purchases increased Robyn Tannenbaum's direct stake in Advanced Flower Capital Inc. (AFCG). The Form 4 shows Ms. Tannenbaum, President and CIO, bought 2,000 shares on 08/22/2025 at an average price of $4.10 and 4,000 shares on 08/25/2025 at an average price of $4.13, for a total of 6,000 newly acquired shares. After these purchases she directly owns 127,667 shares. The filing also reports indirect holdings: 4,335,023 shares held by her spouse and 180,400 shares held by the Tannenbaum Family Foundation, of which she disclaims beneficial ownership except for any pecuniary interest. The report is signed by an attorney-in-fact on 08/26/2025.
Leonard M. Tannenbaum, a director and reported 10% owner of Advanced Flower Capital Inc. (AFCG), filed a Form 4 disclosing multiple open-market purchases of common stock on August 22, 25 and 26, 2025. The filings report acquisitions of 216,117 shares at a weighted average price of $4.03 on August 22, 61,862 shares at $4.08 on August 25, and 97,168 shares at $4.17 on August 26, bringing his directly held shares to 4,335,023.
The report also shows 127,667 shares held by his spouse and 180,400 shares held by the Tannenbaum Family Foundation, for which he serves as President; he disclaims beneficial ownership of those holdings except to the extent of any pecuniary interest. The Form 4 is signed by an attorney-in-fact on August 26, 2025.
Advanced Flower Capital Inc. provides a fragmented excerpt of its proposed proxy materials showing capital-definition text, expense and hypothetical performance tables and pro forma leverage scenarios. The filing states $201.4 million in net assets and actual total assets of $402.1 million with $190.0 million of outstanding indebtedness as of December 31, 2024, and a weighted average effective interest rate on outstanding debt of 6.93%. The document models two pro forma leverage frameworks: a 200% asset coverage scenario with $201.3 million of debt and a 150% asset coverage scenario with $402.5 million of debt.
The tables show hypothetical pre-incentive net investment income rates and expense estimates under each coverage scenario and provide estimated annual interest payments and incentive fee assumptions tied to the Proposed Investment Advisory Agreement. The filing clarifies certain expense assumptions and states that maximum borrowings presented are for comparative informational purposes only.