Company Overview - AFC Gamma, Inc. is a publicly-traded institutional lender that specializes in originating, structuring, and underwriting loans secured by commercial real estate and other financing solutions [2] - The company targets direct lending and bridge loan opportunities typically ranging from $5 million to $100 million across multiple real estate sectors, with a specialization in lending to state-law compliant cannabis operators [2] Upcoming Financial Reporting - AFC Gamma plans to report earnings for the quarter and fiscal year ended December 31, 2023, on Thursday, March 7, 2024 [1] - A conference call will be held at 10:00 am Eastern Time on the same day to discuss the quarterly and annual financial results, and all interested parties are welcome to participate [1] - The call will be available through a live audio webcast on the Investor Relations section of AFC Gamma's website [1]

GlobalP/iStock via Getty Images "Birds of a feather flock together," the old adage says, meaning that - for better or worse - people tend to hang out with those they find common ground with. You'll be hard-pressed to find a ballerina hanging out with a motorcycle gang, for example. Or a cool kid associating with a nerdy one. I'm not saying it can't happen, just that it isn't the norm. I'll acknowledge that opposites can attract. But in the case of humans, those opposites usually end up influencing each othe ...

The Best 3 Marijuana Stocks To Buy In The Market TodayWith 2024 underway marijuana stocks are starting to show better trading action. Even with volatility still showing there have been more signs of life for the sector. What this means is some pot stocks are showing up and down trading consistency. Which did not occur often back in 2023 it was either a downtrend or a short recovery in trading. Nevertheless, there is much speculation on what will take place this year.There are several important situations th ...

Olga Tsareva AFC Gamma's (NASDAQ:AFCG) quarterly dividend distributions proved somewhat resilient in 2023. Whilst there was a 14.3% dividend cut in June, the cannabis lender has been able to keep its quarterly distributions stable through the rest of a year that saw cannabis companies face material headwinds. Acreage (OTCQX:ACRHF), previously one of its top borrowers, lost 75% of its value and is currently teetering on the brink of a Chapter 11 bankruptcy filing with a $17 million market cap set against lon ...

Find Out If These Are The Best Cannabis Stocks For YouCannabis stock investors are preparing for the new year. In 2023 investors were getting more comfortable with how volatility has affected the sector. Now from 2020-2022 the way volatility hit marijuana stocks created a lot more uncertainty when trading. It seems that the way to give people more confidence to invest is to change several things. For starters, the main issue is not having better laws and regulations.Some investors feel that with no federal ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 001-39995 AFC GAMMA, INC. (Exact name of registrant as specified in its charter) Maryland 85-1807125 (State or other ju ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 001-39995 AFC GAMMA, INC. (Registrant's telephone number, including area code) N/A (Former name, former address and former f ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 001-39995 AFC GAMMA, INC. (Exact name of registrant as specified in its charter) Maryland 85-1807125 (State or other jurisd ...

Loan Origination and Pipeline - As of March 1, 2023, the loan origination pipeline includes potential new loans to commercial real estate owners and cannabis operators, with total prospective loan commitments of approximately $454 million and $245 million, respectively[41]. - From January 1, 2020, to March 1, 2023, the management team sourced over $17.0 billion of loans across the cannabis industry while maintaining a robust pipeline of actionable opportunities[41]. - The company intends to focus on senior secured loans to cannabis industry operators and secured loans to commercial real estate owners, with a principal balance typically greater than $5.0 million[98][99]. - As of March 1, 2023, the company had 20 active loans in its commercial real estate pipeline and had passed on 117 of 137 sourced loan opportunities due to various reasons[103]. - For the cannabis pipeline, as of March 1, 2023, there were 14 active loans, with 666 out of 709 sourced opportunities passed on due to lack of collateral and cash flow[105]. Management and Compensation - The Management Agreement allows for an internalization transaction if equity exceeds $1,000,000,000, with a potential offer price based on five times the sum of the annual Base Management Fee and Incentive Compensation[48]. - The Management Agreement was amended on March 6, 2023, to allow investments in second lien loans secured by mortgages to businesses not related to the cannabis industry[52]. - For the year ended December 31, 2022, the Manager earned a Base Management Fee of approximately $3.4 million, net of a Base Management Fee Rebate of approximately $1.8 million[75]. - The Incentive Compensation fee payable to the Manager for the year ended December 31, 2022, was approximately $12.3 million, compared to $6.0 million for the year ended December 31, 2021[75]. - Total management fees for the year ended December 31, 2022, amounted to $19.7 million, significantly higher than $10.6 million for the previous year[76]. Risk Management and Compliance - The company actively manages risk exposure by monitoring its portfolio and investing in a mix of floating- and fixed-rate loans to mitigate interest rate risk[536]. - The company is subject to various regulations, including the Equal Credit Opportunity Act and the USA Patriot Act, impacting its lending operations[111]. - The cannabis industry remains illegal at the federal level, creating legal uncertainty for the company's borrowers and potential investment losses[116]. - The company expects compliance with multiple regulatory regimes to place a significant burden on its borrowers, potentially limiting their expansion[120]. - Management plans to monitor the legal landscape to mitigate risks associated with the cannabis industry[556]. Financial Performance and Metrics - Core Earnings for the quarter were $5,225,000, representing a quarterly yield of 20.9% on Adjusted Capital of $100.0 million[88]. - The Hurdle Amount was set at $2,000,000, calculated as a 2.0% quarterly return on Adjusted Capital[88]. - The total Incentive Compensation payable to the Manager was $1,045,000, which includes a Catch-Up Amount of approximately $666,667 and an Excess Earnings Amount of approximately $378,333[88]. - The Base Management Fees are calculated as 0.375% of the company's Equity, determined as of the last day of each quarter[77]. - The Manager's compensation structure includes both Base Management Fees and Incentive Compensation, with the latter based on achieving targeted levels of Core Earnings[79]. Loan Portfolio and Investment Strategy - The company has a secured revolving credit facility to fund potential loans, along with net proceeds from future debt and equity offerings[42]. - The company has committed approximately $84.9 million under the Private Company A Credit Facility, with multiple amendments increasing loan commitments[68]. - The loan portfolio was concentrated with the top four borrowers representing approximately 70.8% of the aggregate outstanding principal balances[552]. - Approximately 54% of the portfolio's loans were tied to floating rates, including LIBOR and SOFR, as of December 31, 2022[546]. - The company employs a comprehensive review and selection process to mitigate credit risk associated with its loans[549]. Competitive Landscape - The company faces competition from various institutional investors, including REITs and banks, which may have greater financial resources and lower costs of funds[108]. - The company believes it has a competitive advantage due to its Manager's expertise and a flexible funding structure, allowing for quicker redeployment of capital[109].