AFC Gamma (AFCG) to Offer 2.75M in Common Stock

AFC Gamma, Inc. (Nasdaq: AFCG) announced that it has launched an underwritten public offering of 2,750,000 shares of its common stock. AFC Gamma intends to grant the underwriters of the Offering a 30-day option to purchase up to an additional 412,500 shares of common stock.

AFC Gamma intends to use the net proceeds from the Offering to fund loans related to unfunded commitments to its existing borrowers, to originate and participate in commercial loans to companies operating in the cannabis industry that are consistent with its investment strategy, and for working capital and other general corporate purposes.

Jefferies, Cowen, and JMP Securities are acting as joint book-running managers for the Offering.

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