Leonard Tannenbaum ups Advanced Flower Capital (AFCG) stake

Rhea-AI Filing Summary

Advanced Flower Capital Inc. (AFCG) received an updated Schedule 13D/A from Leonard M. Tannenbaum reporting an increased beneficial ownership position in its common stock. Tannenbaum now reports beneficial ownership of 6,860,845 shares of common stock, representing 30.4% of the class, based on 22,541,928 shares outstanding as of August 25, 2026. The increase of approximately 1.1 percentage points since the prior amendment results from open market purchases funded with personal funds and from issuer share repurchases under AFCG's board-authorized share repurchase program. Of the reported amount, 6,680,445 shares are held directly by Tannenbaum, and 180,400 shares are held by the Tannenbaum Family Foundation, over which he disclaims beneficial ownership except to the extent of any pecuniary interest; shares held by his spouse are excluded and also disclaimed.

Key Figures

Beneficial ownership: 6,860,845 shares of Common Stock Percent of class: 30.4% Shares outstanding: 22,541,928 shares of Common Stock +4 more

7 metrics

Beneficial ownership 6,860,845 shares of Common Stock Aggregate amount beneficially owned by Leonard M. Tannenbaum

Percent of class 30.4% Percentage of AFCG common stock represented by 6,860,845 shares

Shares outstanding 22,541,928 shares of Common Stock Shares outstanding as of August 25, 2026, per AFCG Form 8-K

Sole Voting Power 6,680,445 shares Shares over which Leonard M. Tannenbaum has sole voting power

Shared Voting Power 180,400 shares Shares held by Tannenbaum Family Foundation with shared voting power

Ownership increase 1.1 percentage points Approximate increase in beneficial ownership since prior amended Schedule 13D/A

Spousal holdings excluded 226,907 shares Shares held by Ms. Robyn Tannenbaum excluded and disclaimed

Key Terms

beneficial ownership, sole voting power, sole dispositive power, share repurchase program, +1 more

5 terms

beneficial ownership financial

"This Amendment No. 8 is being filed to report changes in the Reporting Person's beneficial ownership"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

sole voting power financial

"Number of Shares Beneficially Owned by Each Reporting Person With: | 7 | Sole Voting Power 6,680,445.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

sole dispositive power financial

"Number of Shares Beneficially Owned by Each Reporting Person With: | 9 | Sole Dispositive Power 6,680,445.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

share repurchase program financial

"under the Issuer's share repurchase program authorized by the Board of Directors"

A share repurchase program is when a company buys back its own shares from the marketplace. This reduces the total number of shares available, which can increase the value of each remaining share and signal confidence in the company's prospects. For investors, it often suggests that the company believes its stock is undervalued or that it has extra cash to return to shareholders.

open market transactions financial

"purchased shares of Common Stock in multiple open market transactions using personal funds"

Open market transactions are the buying and selling of a company’s shares or other securities conducted on public exchanges or through the wider market rather than through private deals or negotiated placements. They matter to investors because these trades change supply and demand in real time—like shoppers affecting a store’s inventory—and so can move prices, signal management or investor sentiment, affect liquidity, and alter ownership stakes that influence future returns and risk.

FAQ

What percentage of Advanced Flower Capital Inc. (AFCG) does Leonard M. Tannenbaum currently beneficially own?

Leonard M. Tannenbaum reports beneficial ownership of 30.4% of AFCG’s common stock, based on 22,541,928 shares outstanding as of August 25, 2026, as disclosed in the company’s Form 8-K.

How many AFCG shares does Leonard M. Tannenbaum report as beneficially owned?

Leonard M. Tannenbaum reports beneficial ownership of 6,860,845 AFCG common shares. This includes 6,680,445 shares held directly and 180,400 shares held by the Tannenbaum Family Foundation, over which he disclaims beneficial ownership except to the extent of his pecuniary interest.

How much did Leonard M. Tannenbaum’s ownership in AFCG increase in this Amendment No. 8?

His aggregate beneficial ownership of AFCG common stock increased by approximately 1.1 percentage points since the filing of his most recent amended Schedule 13D/A, reflecting additional purchases and the impact of issuer share repurchases.

What actions caused the change in Leonard M. Tannenbaum’s AFCG ownership reported in Amendment No. 8?

The change results from open market purchases of AFCG common stock by Leonard M. Tannenbaum using personal funds and from issuer share repurchases in the open market under AFCG’s board-authorized share repurchase program between August 17 and August 25, 2026.

How many AFCG shares outstanding were used to calculate Leonard M. Tannenbaum’s 30.4% ownership?

The 30.4% ownership figure is based on 22,541,928 AFCG common shares outstanding as of August 25, 2026, as reported in Advanced Flower Capital Inc.’s Form 8-K filed on August 26, 2026.

Are any AFCG shares related to Leonard M. Tannenbaum excluded from his reported beneficial ownership?

Yes. The filing states that 226,907 AFCG shares held by Ms. Robyn Tannenbaum, Leonard M. Tannenbaum’s spouse, are excluded. He disclaims beneficial ownership of those shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/26/2026 - 04:26 PM Accepted by SEC EDGAR 08/26/2026 - 04:25 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 8)

Advanced Flower Capital Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

00109K105

(CUSIP Number)

Leonard M. Tannenbaum
477 S. Rosemary Ave, Suite 301,
West Palm Beach, FL, 33401
(561) 510-2390

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

08/25/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 00109K105

1

Name of reporting person

Leonard M. Tannenbaum

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 6,680,445.00
8	Shared Voting Power 180,400.00
9	Sole Dispositive Power 6,680,445.00
10	Shared Dispositive Power 180,400.00

11

Aggregate amount beneficially owned by each reporting person

6,860,845.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

30.4 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

This Amendment No. 8 to Schedule 13D (this "Amendment No. 8") amends and supplements the Schedule 13D originally filed with the Securities and Exchange Commission (the "SEC") by Leonard M. Tannenbaum (the "Reporting Person") with respect to Advanced Flower Capital Inc. (the "Issuer") on April 2, 2021 (the "Schedule 13D"), as amended by Amendment No. 1 to Schedule 13D filed on July 2, 2024, Amendment No. 2 to Schedule 13D filed on August 26, 2025, Amendment No. 3 to Schedule 13D filed on August 29, 2025, Amendment No. 4 to Schedule 13D filed on November 24, 2025, Amendment No. 5 to Schedule 13D filed on March 11, 2026, Amendment No. 6 to Schedule 13D filed on March 24, 2026 and Amendment No. 7 to Schedule 13D filed on June 18, 2026. This Amendment No. 8 is being filed to report changes in the Reporting Person's beneficial ownership of the Issuer's common stock, par value $0.01 per share (the "Common Stock"). Since the filing of the Reporting Person's most recent Schedule 13D/A, the Reporting Person has acquired additional shares of the Issuer's Common Stock that resulted in an increase in the Reporting Person's beneficial ownership by more than one percent (1%) of the outstanding shares of the Issuer's Common Stock. As the aggregate result of the transactions described herein, the Reporting Person's aggregate beneficial ownership of the Issuer's Common Stock has increased by approximately 1.1 percentage points since the filing of the most recent Schedule 13D/A. The Schedule 13D is hereby amended and supplemented to include the information set forth herein. Capitalized terms not defined herein have the meanings given to such terms in the Schedule 13D. Except as set forth herein, the Schedule 13D is unmodified. Lines 7 and 9 consist of 6,680,445 shares of the Issuer's Common Stock held directly by the Reporting Person. Lines 8 and 10 consist of 180,400 shares of Common Stock held by the Tannenbaum Family Foundation (formerly known as the Leonard M. Tannenbaum Foundation), for which the Reporting Person serves as the President, over which the Reporting Person disclaims beneficial ownership, except to the extent of his pecuniary interest. The Schedule 13D excludes 226,907 shares of Common Stock held by Ms. Robyn Tannenbaum, the Reporting Person's spouse, over which the Reporting Person disclaims beneficial ownership. Line 13 is based on the 22,541,928 shares of Common Stock outstanding as of August 25, 2026, as reported in the Issuer's Form 8-K, filed with the SEC on August 26, 2026.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock
(b)	Name of Issuer: Advanced Flower Capital Inc.
(c)	Address of Issuer's Principal Executive Offices: 477 S. Rosemary Ave., Suite 301, West Palm Beach, FLORIDA , 33401.
Item 3.	Source and Amount of Funds or Other Consideration
	Item 3 of the Schedule 13D is hereby amended and supplemented by the addition of the following information: Since June 18, 2026, the Reporting Person purchased shares of Common Stock in multiple open market transactions using personal funds, as listed on Schedule A, attached hereto, and incorporated herein. In addition, this Amendment No. 8 is being filed to reflect increases in the percentage of outstanding Common Stock of the Issuer beneficially owned by the Reporting Person as a result of repurchases of shares of Common Stock made by the Issuer in the open market in the period from August 17, 2026 to August 25, 2026, under the Issuer's share repurchase program authorized by the Board of Directors of the Issuer.
Item 5.	Interest in Securities of the Issuer
(a)	See Items 7-11 and 13 of the cover page above and Item 3.
(b)	See Items 7-11 and 13 of the cover page above and Item 3.
(c)	Transactions in the Common Stock since the last Schedule 13D/A filing are set forth in Schedule A and are incorporated herein. Other than those transactions listed on Schedule A, no transactions in the shares of Common Stock have been effected by the Reporting Person since the filing of Amendment No. 7 to Schedule 13D on June 18, 2026.
Item 7.	Material to be Filed as Exhibits.
	Ex 99.1 - Schedule A - Attached here.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Leonard M. Tannenbaum

Signature:	/s/ Leonard M. Tannenbaum
Name/Title:	Leonard M. Tannenbaum
Date:	08/26/2026