ITEM 8.01 Other Events.

Pursuant to the terms of the underwriting agreement, dated as of March 18, 2021, by and among AFC Gamma, Inc. (the "Company"), AFC Management, LLC, and JMP Securities LLC as representatives of the underwriters listed on Schedule I thereto (collectively, the "Underwriters"), the Underwriters were granted an over-allotment option to purchase up to an additional 937,500 shares of the Company's common stock (the "Option Shares") in connection with the Company's previously announced initial public offering of 6,250,000 shares of common stock. On March 24, 2021, the Underwriters exercised such option in full with respect to the Option Shares. The Company completed the sale of the Option Shares on March 26, 2021.

After giving effect to the full exercise of the over-allotment option, the total number of shares sold by the Company in the initial public offering was 7,187,500 shares and total gross proceeds, before deducting underwriting discounts and commissions and other offering expenses payable by the Company, were approximately $136.6 million.

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