AFC Gamma Prices Initial Public Offering
March 18, 2021 17 : 52 ET | Source : ae.888
Gamma, Inc. AFC Gamma, Inc .
West Palm Beach, Florida, UNITED STATES
WEST PALM BEACH, Fla., March 18, 2021 (GLOBE NEWSWIRE) — AFC Gamma, Inc. (“AFC Gamma” or the “Company”), a commercial real estate finance company that provides loans to operators in the cannabis industry, today announced the pricing of its initial public offering of 6,250,000 shares of its common stock at a public offering price of $19.00 per share. In addition, AFC Gamma has granted the underwriters a 30-day option to purchase up to an additional 937,500 shares of common stock at the initial public offering price, less underwriting discounts and commissions. The Company’s common stock is expected to begin trading on The Nasdaq Global Market on March 19, 2021 under the ticker symbol “AFCG.”
AFC Gamma anticipates total gross proceeds of approximately $ 118.8 million, before deducting underwriting discounts & commissions & other offering expenses và excluding any exercise of the underwriters ’ option lớn purchase additional shares. AFC Gamma intends lớn use the net proceeds from the offering mập fund loans related béo unfunded commitments lớn existing borrowers, originate & participate in additional commercial loans, repay borrowings that are outstanding under its revolving credit facility at consummation of the offering, if any, as well as for working capital & other general corporate purposes. The offering is expected Khủng close on or about March 23, 2021, subject mập the satisfaction of customary closing conditions. JMP Securities LLC, Ladenburg Thalmann và Co., Inc. and Seaport Global Securities LLC are acting as joint book-running managers for the offering. Lake Street Capital Markets, LLC is acting as a co-manager for the offering. A registration statement relating bự the shares being sold in the offering was filed with the Securities & Exchange Commission & became effective on March 18, 2021. The offering is being made only by means of a prospectus. Copies of the final prospectus relating béo the offering, when available, may be obtained from JMP Securities LLC, Attn : Prospectus Department, 600 Montgomery Street, Suite 1100, San Francisco, California 94111, by tin nhắn at [email protected], or by telephone at 415-835-8985 ; Ladenburg Thalmann và Co., Inc., Attn : Syndicate Department, 640 5 th Ave, bốn th Floor New York, NY 10019, by gmail at [email protected] or by telephone at 1-800 – 573 – 2541 ; và / or Seaport Global Securities LLC, Attn : Capital Markets, 360 Madison Avenue, 22 nd Floor New York, NY 10017, by tin nhắn at [email protected], or by telephone at 212-616-7748. This press release shall not constitute an offer Khủng sell or the solicitation of an offer Khủng buy, nor shall there be any marketing of these securities in any state or jurisdiction in which such offer, solicitation or marketing would be unlawful prior lớn registration or qualification under the securities laws of any such state or other jurisdiction. About AFC Gamma AFC Gamma is a commercial real estate finance company that provides a range of lending solutions béo established operators in the cannabis industry. AFC Gamma originates, structures, underwrites & manages senior secured loans và other types of loan solutions in states that have legalized medicinal & / or adult use cannabis. The Company intends Khủng elect và qualify phệ be taxed as a real estate investment trust, commencing with its taxable year ending December 31, 2020.
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