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AFC Gamma Priced, Nasdaq: AFCG

Newly-formed commercial mortgage REIT focused on the cannabis industry.

Industry: Financials

Latest Trade: $11.93 0.00 (0.0%)

First Day Return: +21.1%

Return from IPO: -37.2%

Industry: Financials

AFC Gamma is a commercial real estate finance company founded in July 2020 by a veteran team of investment professionals. We originate, structure, underwrite and manage senior secured loans and other types of loans for established companies operating in the cannabis industry in states that have legalized medicinal and/or adult use cannabis. As states continue to legalize cannabis for medical and adult use, an increasing number of companies operating in the cannabis industry need financing. Due to the capital constrained cannabis market which does not typically have access to traditional bank financing and faces limitations on accessing equity markets, we believe we are well positioned to become a prudent financing source to established cannabis industry operators given our stringent underwriting criteria, size and scale of operations and institutional infrastructure. Our objective is to provide attractive risk-adjusted returns over time through cash distributions and capital appreciation by providing loans to state law compliant cannabis companies. The loans we originate will primarily be structured as senior loans secured by real estate, equipment, licenses and/or other assets of the loan parties to the extent permitted by applicable laws and the regulations governing such loan parties.
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IPO Data
IPO File Date 12/28/2020
Offer Price $19.00
Price Range $19.00 - $19.00
Offer Shares (mm) 6.3
Deal Size ($mm) $119
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 03/18/2021
Offer Price $19.00
Price Range $19.00 - $19.00
Offer Shares (mm) 6.3
Deal Size ($mm) $119
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
Citizens JMP
Ladenburg Thalmann
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Company Data
Headquarters West Palm Beach, FL, United States
Founded 2020
Employees 9
Website www.afcgamma.com

AFC Gamma (AFCG) Performance