AFC Gamma, Inc. announces an Equity Buyback for $20 million worth of its shares.
June 15, 2023 at 08:30 am EDT
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AFC Gamma, Inc. (NasdaqGM:AFCG) announces a share repurchase program. Under the program, the company will repurchase up to $20 million worth of its shares. The company expects to finance any share repurchases under the program using cash on hand, capacity available under our line of credit and cash flows from operations.
AFC Gamma, Inc. is an institutional lender to the commercial real estate sector. The Company primarily originates, structures, underwrites, invests in and manages senior secured loans and other types of commercial real estate loans and debt securities, with a specialization in loans to cannabis industry operators in states that have legalized medical and/or adult-use cannabis. The Companyâs objective is to provide attractive risk-adjusted returns over time through cash distributions and capital appreciation primarily by providing loans to real estate developers and state-law compliant cannabis companies. The loans it originates are primarily structured as senior loans secured by real estate, equipment, value associated with licenses (where applicable) and/or other assets of the loan parties to the extent permitted by applicable laws and the regulations governing such loan parties. The Company targets investing strategically across multiple real estate sectors.
AFC GAMMA, INC. 
