AFC Gamma Inc.

AFCG

We are a commercial real estate finance company founded in July 2020 by a veteran team of investment professionals. We originate, structure, underwrite and manage senior secured loans and other types of loans for established cannabis industry operators in states that have legalized medicinal and/or adult use cannabis. As states continue to legalize cannabis for medical and adult use, an increasing number of companies operating in the cannabis industry need financing. Due to the capital constrained cannabis market which does not typically have access to traditional bank financing, we believe we are well positioned to become a prudent financing source to established cannabis industry operators given our stringent underwriting criteria, size and scale of operations and institutional infrastructure.

Our objective is to provide attractive risk-adjusted returns over time through cash distributions and capital appreciation by providing loans to state law compliant cannabis companies. The loans we originate will primarily be structured as senior loans secured by real estate, equipment, licenses and/or other assets of the loan parties to the extent permitted by applicable laws and the regulations governing such loan parties. Our targeted borrowers will sometimes be publicly traded on the CSE in Canada and/or OTC in the United States. Our loans will typically have up to a five-year maturity and contain amortization and/or cash flow sweeps. As of December 26, 2020, members of our management team, provided by our Manager, and the members of the Investment Committee of our Manager, who advises on our investments and operations, have sourced loans worth approximately $4.7 billion across the cannabis industry in various states while maintaining a robust pipeline of potentially actionable opportunities.

We are externally managed by our Manager, AFC Management, LLC. Our Manager’s professionals have extensive financing capabilities and experience, having collectively completed $10 billion of gross real estate and financing cash flow transactions since 1998. In addition, the employees of our Manager have extensive capabilities in originating, underwriting and managing real estate and related financings. We believe our relationship with our Manager benefits us by providing access to a robust pipeline of potentially actionable opportunities, an extensive relationship network of cannabis industry operators and significant back-office personnel to assist in origination and management of loans. 

Offer Price Offer Size 3-Year Outlook Volatility 1st Day Turnover
$19.00 6,250,000 Positive High 22.23%

Offering Team

Deal Managers

  • JMP Securities
  • Ladenburg Thalmann

Lawyers

  • Venable LLP

Auditors

  • CohnReznick LLP

Pre-IPO Investors

Investors

  • Google Ventures
  • Intel Ventures
  • Patricoff Ventures
  • Kleiner Perkins

Pre-IPO Holdings(%)

  • 30
  • 20
  • 05
  • 18

Deal Highlights

Deal Tracker

Investors

Filing

18 Mar, 2021

Offer

19 Mar, 2021

Look Ahead

Lock Up Expiry

19 Sep, 2021

Earning

Nov 1, 2018

IPO Terms

Offer Price $19.00
Offer Size 6M

Market Sentiments

Stock Price