Leonard Tannenbaum (AFCG) increases beneficial ownership to 29.4% in Schedule 13D/A

Rhea-AI Filing Summary

Leonard M. Tannenbaum filed Amendment No. 7 to his Schedule 13D on Advanced Flower Capital Inc. (AFCG), updating his ownership in the company’s common stock. He now reports beneficial ownership of 6,697,175 shares, representing 29.4% of the common stock outstanding.

Of this amount, Tannenbaum holds 6,516,775 shares directly and 180,400 shares are held by the Tannenbaum Family Foundation, where he is President and disclaims beneficial ownership except for his pecuniary interest. The ownership increase of approximately 1.5 percentage points since the prior amendment reflects open market purchases with personal funds and the impact of the issuer’s share repurchases between May 11, 2026 and June 17, 2026. The percentage is based on 22,809,064 shares outstanding as of June 17, 2026.

Insights

Equity ownership & governance analyst

Large existing holder modestly increases stake to 29.4%.

Leonard M. Tannenbaum now reports beneficial ownership of 6,697,175 shares, or 29.4% of Advanced Flower Capital Inc. common stock. This reflects additional open market purchases using personal funds and the effect of issuer share repurchases.

The filing notes an increase of about 1.5 percentage points in his ownership since the prior amendment, based on 22,809,064 shares outstanding as of June 17, 2026. This is a notable but not transformational change that modestly strengthens an already significant shareholder position.

Key Figures

Beneficial ownership: 6,697,175 shares Ownership percentage: 29.4% Direct holdings: 6,516,775 shares +3 more

6 metrics

Beneficial ownership 6,697,175 shares Total shares beneficially owned by Leonard M. Tannenbaum

Ownership percentage 29.4% Percent of AFCG common stock represented by reported beneficial ownership

Direct holdings 6,516,775 shares Shares of AFCG common stock held directly by Tannenbaum

Foundation holdings 180,400 shares Shares held by Tannenbaum Family Foundation; beneficial ownership disclaimed except pecuniary interest

Shares outstanding 22,809,064 shares AFCG common stock outstanding as of June 17, 2026, per Form 8-K

Ownership change ≈1.5 percentage points Increase in Tannenbaum’s aggregate beneficial ownership since prior Schedule 13D/A

Key Terms

beneficial ownership, Schedule 13D, open market transactions, share repurchase program, +2 more

6 terms

beneficial ownership financial

"This Amendment No. 7 is being filed to report changes in the Reporting Person's beneficial ownership of the Issuer's common stock"

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.

Schedule 13D regulatory

"originally filed with the Securities and Exchange Commission by Leonard M. Tannenbaum with respect to Advanced Flower Capital Inc. on April 2, 2021"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

open market transactions financial

"Since March 24, 2026, the Reporting Person 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.

share repurchase program financial

"repurchases of shares of Common Stock made by the Issuer in the open market in the period from May 11, 2026 to June 17, 2026, under the Issuer's share repurchase program"

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.

sole voting power financial

"Number of Shares Beneficially Owned by Each Reporting Person With: Sole Voting Power 6,516,775.00"

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.

shared dispositive power financial

"Shared Dispositive Power 180,400.00"

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Available on EDGAR 06/18/2026 - 04:11 PM Accepted by SEC EDGAR 06/18/2026 - 04:10 PM Learn about SEC filing dates

FAQ

How many AFCG shares does Leonard M. Tannenbaum now beneficially own?

Leonard M. Tannenbaum now beneficially owns 6,697,175 shares of Advanced Flower Capital Inc. common stock. This total combines 6,516,775 shares held directly and 180,400 shares held by the Tannenbaum Family Foundation, where he disclaims beneficial ownership except for his pecuniary interest.

What percentage of AFCG’s common stock does Tannenbaum’s stake represent?

Tannenbaum’s reported beneficial ownership represents 29.4% of Advanced Flower Capital Inc.’s outstanding common stock. This percentage is calculated using 22,809,064 shares outstanding as of June 17, 2026, as reported by the company in a Form 8-K filing on June 18, 2026.

How did Leonard M. Tannenbaum increase his ownership in AFCG?

Tannenbaum increased his ownership through multiple open market purchases of common stock using personal funds, listed in Schedule A. The filing also notes that his percentage ownership rose further because of AFCG’s share repurchases in the open market from May 11, 2026 to June 17, 2026.

What change in ownership percentage does this AFCG Schedule 13D/A report?

The amendment reports that Tannenbaum’s aggregate beneficial ownership of AFCG common stock has increased by approximately 1.5 percentage points since the most recent Schedule 13D/A. This change reflects both his open market purchases and the impact of the company’s share repurchase program.

How many AFCG shares are outstanding for this ownership calculation?

The reported 29.4% ownership is based on 22,809,064 shares of Advanced Flower Capital Inc. common stock outstanding as of June 17, 2026. This outstanding share count comes from the company’s Form 8-K filed with the SEC on June 18, 2026, and underpins the percentage calculation.

How are AFCG shares held by the Tannenbaum Family Foundation treated in this filing?

The filing shows 180,400 shares of AFCG common stock held by the Tannenbaum Family Foundation. Tannenbaum serves as President and reports these shares for voting and dispositive power calculations but disclaims beneficial ownership except to the extent of his pecuniary interest in the foundation’s holdings.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 7)

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)

06/17/2026

(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 6,516,775.00
8	Shared Voting Power 180,400.00
9	Sole Dispositive Power 6,516,775.00
10	Shared Dispositive Power 180,400.00

11

Aggregate amount beneficially owned by each reporting person

6,697,175.00

12

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

13

Percent of class represented by amount in Row (11)

29.4 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

This Amendment No. 7 to Schedule 13D (this "Amendment No. 7") 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 and Amendment No. 6 to Schedule 13D filed on March 24, 2026. This Amendment No. 7 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 1.5 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 6,516,775 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 225,907 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 22,809,064 shares of Common Stock outstanding as of June 17, 2026, as reported in the Issuer's Form 8-K, filed with the SEC on June 18, 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 24, 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. 7 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 May 11, 2026 to June 17, 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. 6 to Schedule 13D on March 24, 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:	06/18/2026