ITEM 8.01 Other Events.
Pursuant to the terms of the underwriting agreement, dated as of June 23, 2021,
by and among AFC Gamma, Inc. (the "Company"), AFC Management, LLC, and Jefferies
LLC, Cowen and Company, LLC, and JMP Securities LLC for themselves and as
representatives of the underwriters named in Schedule A thereto (collectively,
the "Underwriters"), the Underwriters were granted an over-allotment option to
purchase up to an additional 412,500 shares of the Company's common stock (the
"Optional Shares") in connection with the Company's previously announced public
offering of 2,750,000 shares of common stock. On July 1, 2021, the Underwriters
partially exercised such option with respect to 269,650 Optional Shares. The
Company completed the sale of the Optional Shares on July 6, 2021.
After giving effect to the partial exercise of the over-allotment option, the
total number of shares sold by the Company in the public offering was 3,019,650
shares and total gross proceeds, before deducting underwriting discounts and
commissions and other offering expenses payable by the Company, were
approximately $61.9 million.
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