Advanced Flower Capital Transitions to Business Development Company
WEST PALM BEACH, Fla., January 5, 2026 (GLOBE NEWSWIRE) — Advanced Flower Capital Inc. (Nasdaq: AFCG) has completed its transition from a real estate investment trust (REIT) to a business development company (BDC), a move effective as of January 1, 2026. This strategic conversion aims to broaden the company's investment horizons, enabling it to pursue a wider array of opportunities.
Details of the Conversion
The conversion allows AFCG to expand its investment flexibility beyond real estate-backed loans. It positions the company to invest in various operating businesses, which will enhance long-term shareholder value. "We thank our shareholders for their continued support in AFC as we complete this important milestone," stated Leonard M. Tannenbaum, CFA, Chairman of the Board of Directors. He further noted that the company has identified substantial investment opportunities poised to deliver attractive risk-adjusted returns.
No Changes to Nasdaq Listing
Despite the transformation to a BDC, there will be no impact on AFCG's listing on the Nasdaq; the company will continue to trade under the existing ticker symbol, AFCG. Additional details regarding the conversion will be outlined in the company's forthcoming Form 8-K filing with the U.S. Securities and Exchange Commission.
About Advanced Flower Capital Inc.
Advanced Flower Capital Inc. (Nasdaq: AFCG) operates as a business development company specializing in loans to middle-market companies within the U.S. cannabis sector, particularly in states where cannabis is legal for medical and/or adult use. The company provides financial support not only to cannabis businesses but also to ancillary enterprises, ranging from brand developers to equipment suppliers.
- Loans typically range from approximately $10 million to over $100 million.
- The company leverages its management team's extensive credit and industry-specific expertise.
- AFC is externally managed by AFC Management, LLC.
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Terms such as "believes," "expects," "projects," and "anticipates" identify these forward-looking statements, which involve inherent risks and uncertainties. Actual results may differ materially from those projected due to various factors, including the effectiveness of AFC’s management in securing suitable loan opportunities and effectively managing the loan portfolio.
Contact Information
For further information, investors can reach Robyn Tannenbaum at 561-510-2293 or via email at ir@advancedflowercapital.com. Media inquiries can be directed to Jim Golden or Jack Kelleher at AFCG-CS@collectedstrategies.com.