AFC Gamma (AFCG) to Offer 3M Common Shares

AFC Gamma, Inc. (Nasdaq: AFCG), a commercial real estate finance company that provides loans to operators in the cannabis industry, today announced that it has launched an underwritten public offering (the “Offering”) of 3,000,000 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 450,000 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 and Cowen are acting as joint book-running managers for the Offering, with JMP Securities also acting as a bookrunner, and EF Hutton, division of Benchmark Investments, LLC, and Seaport Global Securities acting as passive bookrunners.

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