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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