Tannenbaum lifts Advanced Flower Capital stake to 27.9%

Leonard M. Tannenbaum filed Amendment No. 6 to his Schedule 13D for Advanced Flower Capital Inc., updating his ownership in the company’s common stock.

Rhea-AI Filing Summary

Leonard M. Tannenbaum filed Amendment No. 6 to his Schedule 13D for Advanced Flower Capital Inc., updating his ownership in the company’s common stock. He now reports beneficial ownership of 6,553,506 shares, representing 27.9% of the outstanding common stock.

Of this amount, 6,373,106 shares are held directly, with an additional 180,400 shares held by the Tannenbaum Family Foundation, where he serves as President and disclaims beneficial ownership except for any pecuniary interest. The increase in his stake, approximately 1.6 percentage points since the prior amendment, comes from multiple open-market purchases using personal funds.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What ownership stake in AFCG does Leonard M. Tannenbaum now report?

Leonard M. Tannenbaum now reports beneficial ownership of 6,553,506 shares of Advanced Flower Capital Inc. common stock, representing 27.9% of the outstanding shares based on 23,528,844 shares outstanding as of December 31, 2025.

How did Leonard M. Tannenbaum increase his AFCG position in this Schedule 13D/A?

Tannenbaum increased his Advanced Flower Capital Inc. position through multiple open-market purchases of common stock using personal funds. These transactions, detailed in Schedule A, collectively raised his beneficial ownership by about 1.6 percentage points since the prior amendment.

How many AFCG shares does Leonard M. Tannenbaum hold directly versus through a foundation?

Tannenbaum holds 6,373,106 shares of Advanced Flower Capital Inc. common stock directly. An additional 180,400 shares are held by the Tannenbaum Family Foundation, where he is President and disclaims beneficial ownership except for any pecuniary interest in those shares.

What share count did AFCG report outstanding for calculating Tannenbaum’s 27.9% stake?

The 27.9% ownership figure is based on 23,528,844 shares of Advanced Flower Capital Inc. common stock outstanding as of December 31, 2025, as reported in the company’s Form 10-K filed on March 4, 2026.

Does Leonard M. Tannenbaum’s reported AFCG ownership include shares held by his spouse?

No. The filing states that the reported aggregate amount excludes 218,907 shares of Advanced Flower Capital Inc. common stock held by Ms. Robyn Tannenbaum, his spouse, over which he disclaims beneficial ownership.

What type of Schedule 13D filing did Leonard M. Tannenbaum submit for AFCG?

He submitted Amendment No. 6 to a Schedule 13D concerning Advanced Flower Capital Inc. common stock. The amendment updates his beneficial ownership and incorporates recent open-market purchases detailed in Schedule A to the statement.

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

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Accepted by SEC EDGAR 03/24/2026 - 05:11 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. 6)

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)

03/20/2026

(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 6,373,106.00
8	Shared Voting Power 180,400.00
9	Sole Dispositive Power 6,373,106.00
10	Shared Dispositive Power 180,400.00

11

Aggregate amount beneficially owned by each reporting person

6,553,506.00

12

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

13

Percent of class represented by amount in Row (11)

27.9 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

This Amendment No. 6 to Schedule 13D (this "Amendment No. 6") 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 and Amendment No. 5 to Schedule 13D filed on March 11, 2026. This Amendment No. 6 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' Commons Stock has increased by approximately 1.6 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 6,373,106 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 218,907 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 23,528,844 shares of Common Stock outstanding as of December 31, 2025, as reported in the Issuer's Annual Report on Form 10-K, filed with the SEC on March 4, 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 March 11, 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.
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. 5 to Schedule 13D on March 11, 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:	03/24/2026