Articles from AFC Gamma, Inc.

Record Date for Distribution of Sunrise Realty Trust to be July 8, 2024Distribution Date to be July 9, 2024

Record Date for Distribution of Sunrise Realty Trust to be July 8, 2024Distribution Date Expected to be July 9, 2024Board of Directors Declares $0.15 per Share Spin-Off Special Dividend

Declares $0.48 dividend per share for the quarter ending June 30, 2024

WEST PALM BEACH, Fla., June 04, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) (“AFC Gamma”) today announced that it has successfully exited its $84.0 million loan to Subsidiary of Public Company H. This was AFC Gamma’s largest loan in its portfolio and during our last earnings call, we noted that the borrower failed to make its April interest payment in May. Through active portfolio management, AFC Gamma is pleased to announce that it has sold the loan to a third-party at par plus accrued, which generated a 19.9% internal rate of return (“IRR”) over the life of the loan.

Funding will allow Grön to expand its footprint into new markets

WEST PALM BEACH, Fla., May 20, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ: AFCG) (“AFC Gamma”) today announced the anticipated composition of the Boards of Directors for each of AFC Gamma and Sunrise Realty Trust, Inc. (“SUNS”) following the spin-off of AFC Gamma’s commercial real estate portfolio, which is currently held in its wholly-owned subsidiary, SUNS (the “Spin-Off”). The Spin-Off is expected to be completed in mid-2024, at which time SUNS will operate as a separate company that intends to elect REIT status and trade on the Nasdaq exchange.

First quarter 2024 GAAP net loss of $(0.1) million or $(0.01) per basic weighted average common share and Distributable Earnings(1) of $10.0 million or $0.49 per basic weighted average common share

WEST PALM BEACH, Fla., April 10, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) (“AFC Gamma”) today announced that it plans to report earnings for the quarter ended March 31, 2024 on Thursday, May 9, 2024.

Represents AFC Gamma’s Second Transaction in Florida’s Growing Medical Cannabis Market

Fourth quarter 2023 GAAP net loss of $(9.2) million or $(0.45) per basic weighted average common share andDistributable Earnings(1) of $10.0 million or $0.49 per basic weighted average common share

WEST PALM BEACH, Fla., Feb. 22, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) (“AFC Gamma”) today announced that its Board of Directors has unanimously approved a plan to spin-off its commercial real estate (“CRE”) portfolio into an independent, publicly traded company that intends to elect REIT status, Sunrise Realty Trust, Inc. (“SUNS”). The spin-off will result in two pure-play debt capital providers – one focused solely on the cannabis industry and a second on CRE in the southern United States. AFC Gamma believes that the separation will allow both companies to focus on their respective portfolios, articulate their own clear investment thesis, and have the flexibility to tailor their business strategies to best capture market opportunities within their specialization. The separation is expected to be completed in mid-2024.

Commercial Real Estate Transactions Totaling $56.4 million during January 2024

WEST PALM BEACH, Fla., Jan. 31, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) (“AFC Gamma”) today announced that it plans to report earnings for the quarter and fiscal year ended December 31, 2023 on Thursday, March 7, 2024.

Declares $0.48 dividend per share for the quarter ending December 31, 2023

Third quarter GAAP net income of $8.0 million or $0.39 per basic weighted average common share and Distributable Earnings(1) of $9.9 million or $0.49 per basic weighted average common share

Brings Extensive Operational Experience and Deep Cannabis Knowledge

WEST PALM BEACH, Fla., Oct. 18, 2023 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) (“AFC Gamma”) today announced that it plans to report earnings for the quarter ended September 30, 2023 on Wednesday, November 8, 2023.

Declares $0.48 dividend per share for the quarter ending September 30, 2023

Second quarter GAAP net income of $12.1 million or $0.59 per basic weighted average common share and Distributable Earnings(1) of $9.9 million or $0.49 per basic weighted average common share

WEST PALM BEACH, Fla., July 24, 2023 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) (“AFC Gamma”) today announced that it plans to report earnings for the quarter ended June 30, 2023 on Tuesday, August 8, 2023.

Declares $0.48 Dividend for Quarter Ending June 30, 2023Announces Share Repurchase ProgramProvides Portfolio Updates

WEST PALM BEACH, Fla., June 14, 2023 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ: AFCG) (“AFC Gamma” or the “Company”) today announced that the Board of Directors has appointed James C. Fagan as an independent director of the company, effective June 13, 2023.

First quarter GAAP net income of $10.0 million or $0.49 per basic weighted average common share and Distributable Earnings(1) of $11.6 million or $0.57 per basic weighted average common share

WEST PALM BEACH, Fla., April 25, 2023 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) (“AFC Gamma”) today announced that it plans to report earnings for the quarter ended March 31, 2023 on Wednesday, May 10, 2023.

WEST PALM BEACH, Fla., March 20, 2023 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) ( “AFC Gamma” or the “Company”) today announced that Brandon Hetzel, AFC Gamma’s current Executive Vice President, Controller, has been appointed to serve as the Company’s Chief Financial Officer and Treasurer. Mr. Hetzel’s appointment was approved by the Company’s Board of Directors on March 17, 2023.

Fourth quarter GAAP net income of $2.9 million or $0.14 per basic weighted average common share and Distributable Earnings(1) of $12.6 million or $0.62 per basic weighted average common share

WEST PALM BEACH, Fla., Feb. 23, 2023 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) ( “AFC Gamma”) today announced that it plans to report earnings for the quarter and fiscal year ended December 31, 2022 on Tuesday, March 7, 2023.

Declares $0.56 dividend per share for the quarter ending December 31, 2022

WEST PALM BEACH, Fla., Nov. 08, 2022 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) (“AFCG” or “AFC Gamma”) today announced its results for the third quarter of 2022.

Lenders Revise Credit Facility to Provide Acreage Access to up to an additional $50 Million

WEST PALM BEACH, Fla., Oct. 20, 2022 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) ( “AFC Gamma”) today announced that it plans to report its third quarter earnings for the quarter ended September 30, 2022 on Tuesday, November 8, 2022.