Advanced Flower Capital Advances Planned Conversion to BDC to Deliver Long-Term Growth and Value Creation

Core Viewpoint - Advanced Flower Capital Inc. (AFC) is seeking shareholder approval for its conversion from a real estate investment trust (REIT) to a business development company (BDC), with a special meeting scheduled for November 6, 2025 [2][5][10]. Group 1: Shareholder Meeting Details - The special meeting will be conducted virtually on November 6, 2025, at 10:00 a.m. Eastern Time, and shareholders of record as of September 15, 2025, are entitled to vote [3][5]. - Shareholders will receive proxy cards or instructions on how to vote in the coming days [3][7]. Group 2: Proposals for Approval - Two key proposals are being presented for shareholder approval: 1. A new investment advisory agreement compliant with the Investment Company Act of 1940 [6]. 2. The application of a reduced asset coverage ratio as permitted under Section 61(a)(2) of the 1940 Act [6][8]. Group 3: Strategic Rationale - The conversion aims to expand AFC's investment scope beyond real-estate-backed loans, enhancing portfolio diversification and reducing concentration risk [8]. - This strategic shift is expected to better position AFC for long-term sustainable value creation for shareholders [8]. Group 4: Company Background - AFC is a leading commercial mortgage REIT that specializes in originating, structuring, underwriting, and managing senior secured mortgage loans, particularly in the cannabis industry [11]. - The company typically manages loans ranging from $10 million to over $100 million, secured by quality real estate assets and cash flows [11].