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press release

Jan. 3, 2022, 4:06 p.m. EST

AFC Gamma, Inc. Announces Launch of Common Stock Offering

WEST PALM BEACH, Fla., Jan 03, 2022 (GLOBE NEWSWIRE via COMTEX) -- WEST PALM BEACH, Fla., Jan. 03, 2022 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. ("AFC Gamma") /zigman2/quotes/224519084/composite AFCG -1.28% , 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.

A registration statement (as amended, the "Registration Statement") relating to these securities has been filed with the Securities and Exchange Commission (the "SEC") but has not yet become effective. The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the Offering may be obtained by using EDGAR on the SEC website at www.sec.gov or by contacting: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, telephone: 1-877-821-7388 or e-mail: Prospectus_Department@Jefferies.com ; and/or Cowen and Company, LLC, Attn: Prospectus Department, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, by email at PostSaleManualRequests@broadridge.com , or by telephone at 833-297-2926.

These securities may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About AFC Gamma

AFC Gamma is a commercial real estate finance company that provides a range of lending solutions to established operators in the cannabis industry. AFC Gamma originates, structures and underwrites senior secured loans and other types of loan solutions in states that have legalized medicinal and/or adult use cannabis. AFC Gamma has elected and continues to intend to qualify to be taxed as a real estate investment trust, commencing with its taxable year ended December 31, 2020.

Forward-Looking and Cautionary Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, and AFC Gamma intends such statements to be covered by the safe harbor provisions contained therein. Words such as "believes," "expects," "will," "intends," "plans," "guidance," "estimates," "projects," "anticipates," and "future" or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements include these words. All statements other than statements of historical or current fact included in this press release are forward-looking statements. Forward-looking statements include statements concerning the conduct of the Offering and the size and terms of the Offering. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond AFC Gamma's control, including, without limitation, risks and uncertainties related to market conditions, that the size of the Offering could change or the Offering could be terminated, and the satisfaction of customary closing conditions related to the Offering. Actual results could differ significantly from the results discussed or implied in the forward-looking statements due to a number of factors, including, but not limited to, risks set forth in the section entitled "Risk Factors" and elsewhere in the Registration Statement relating to the Offering. The forward-looking statements included in this press release should not be unduly relied upon, represent AFC Gamma's views only as of the date of this press release and do not represent AFC Gamma's views as of any subsequent date. AFC Gamma undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, changes in AFC Gamma's expectations or otherwise, except as required by law.

INVESTOR CONTACT:
Robyn Tannenbaum
561-510-2293
ir@advancedflowercapital.com

MEDIA CONTACT:
Mark Sinclair
MATTIO Communications
mark@mattio.com

COMTEX_399990186/2471/2022-01-03T16:05:57

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/zigman2/quotes/224519084/composite
US : U.S.: Nasdaq
$ 15.40
-0.20 -1.28%
Volume: 63,823
July 6, 2022 4:00p
P/E Ratio
8.97
Dividend Yield
13.25%
Market Cap
$307.99 million
Rev. per Employee
N/A
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