Latest news with #AdvancedFlowerCapitalInc
Associated Press
02-05-2025
- Business
- Associated Press
Advanced Flower Capital Renews Senior Secured Revolving Credit Facility with Lead Commitment from FDIC-Insured Bank
WEST PALM BEACH, Fla., May 02, 2025 (GLOBE NEWSWIRE) -- Advanced Flower Capital Inc. (NASDAQ: AFCG) ('AFC') today announced that it has renewed its senior secured revolving credit facility ('Credit Facility') with a lead commitment from an FDIC-insured bank with over $75 billion of assets. AFC intends to use availability under the Credit Facility to fund unfunded commitments to existing borrowers, to originate and participate in commercial loans to cannabis operators in line with its investment strategy, and for working capital and other general corporate purposes. The Credit Facility, which includes the ability to expand to $100 million, subject to lender participation and available borrowing base, has a maturity date of April 29, 2028, and bears interest at a floating rate of Prime + 0.50%, subject to a Prime floor of 6.50%. 'We are pleased to renew our senior secured credit facility with a long-standing banking partner of this scale. This facility plays a central role in how we finance the business, and we look forward to continuing to build on this strong relationship as we pursue additional commitments over time,' said Brandon Hetzel, AFC's Chief Financial Officer. About Advanced Flower Capital Inc. Advanced Flower Capital Inc. (NASDAQ: AFCG) is a leading commercial mortgage REIT that provides institutional loans to state law compliant cannabis operators in the U.S. Through the management team's deep network and significant credit and cannabis expertise, AFC originates, structures and underwrites loans ranging from $10 million to over $100 million, typically secured by quality real estate assets, license value and cash flows. It is based in West Palm Beach, Florida. For additional information regarding the Company, please visit Forward-Looking Statements This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect our current views and projections with respect to, among other things, future events and financial performance. All statements, other than historical facts, are forward-looking statements. Words such as 'believes,' 'expects,' 'will,' 'intends,' 'plans,' 'guidance,' 'estimates,' 'projects,' 'anticipates,' and 'future' or similar expressions are intended to identify forward-looking statements. These forward-looking statements regarding the anticipated use of the Credit Facility are subject to the inherent uncertainties in predicting future results and conditions and are not guarantees of future performance, conditions or results. Certain factors, including the ability of our manager to locate suitable loan opportunities for us, monitor and actively manage our loan portfolio, and implement our investment strategy, the demand for cannabis cultivation and processing facilities and dispensaries, management's current estimates of expected credit losses and current expected credit loss reserves, and other factors, could cause actual results and performance to differ materially from those projected in these forward-looking statements. More information on these risks and other potential factors that could affect our business and financial results is included in AFC's filings with the SEC, including in the 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' sections of AFC's most recently filed Annual Report on Form 10-K and subsequent filings. New risks and uncertainties arise over time, and it is not possible to predict those events or how they may affect AFC. We do not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Investor Relations Contact Robyn Tannenbaum 561-510-2293 [email protected] Media Contact Collected Strategies Jim Golden / Jack Kelleher [email protected]
Yahoo
29-03-2025
- Business
- Yahoo
Is Advanced Flower Capital Inc. (AFCG) the Best Cannabis Stock to Buy According to Billionaires?
We recently published a list of 12 Best Cannabis Stock to Buy According to Billionaires. In this article, we are going to take a look at where Advanced Flower Capital Inc. (NASDAQ:AFCG) stands against other best marijuana stocks to invest in according to billionaires. 2025 didn't start off very well for the American cannabis sector. The recent failure of the adult-use ballot initiative in Florida, the lack of prioritization of federal reforms, and pricing pressure by the black market have contributed significantly to cannabis equity values reaching near record lows. MSOS, the first actively managed US-listed ETF with dedicated cannabis exposure focusing exclusively on US companies, has fallen by just over 36% since the beginning of the year, against a decline of 1.72% by the general market. READ ALSO: 10 Best Alcohol Stocks to Buy According to Billionaires To make matters worse, the biggest multi-state cannabis operators have as much as $6 billion in debt maturing next year, according to Whitney Economics. Moreover, due to federal illegalization, these companies cannot turn to the US bankruptcy court to keep their creditors at bay while renegotiating their debt. As a result, these businesses will be forced to refinance their debt at higher interest rates and onerous contractual covenants, which will be extremely difficult to manage given the declining profitability of the sector. A recent survey by Whitney Economics revealed that only 27.3% of cannabis operators nationwide are profitable, compared to 42% in 2022. Also, despite the stringent crackdowns, the cannabis black market continues to be a constant thorn in the side of licensed operators. The market remains flooded with illegal weed, and according to cannabis market tracker BDSA, the US witnessed about $44 billion in illicit sales last year compared to around $31 billion in regulated, legal sales. The black market, combined with an oversaturation of legal operators, has led to a massive decline in prices and, hence reduced margins. The US Cannabis Spot Index, which tracks wholesale prices in 22 states, sits at $991 per pound after reaching a record low in early January of $888. This is significantly down from its peak of $2,133 in September 2015, during the early period of licensed sales in some states. Given the tough conditions at home, a growing number of cannabis operators are now looking to capitalize on the growing opportunities abroad. As you will notice below, several cannabis stocks in our list managed to increase their sales in the last quarter also due to their expanding international footprint and revenues. With legalization gaining traction worldwide, several industry veterans are now exporting cannabis internationally or straight up establishing growing facilities in their target markets. A great example is how Canada's volume of cannabis exports to Germany doubled from 16,895 kilograms (roughly 37,247 pounds) in 2023 to 33,155 kilograms last year, according to Germany's Federal Institute for Drugs and Medical Devices. As of the writing of this article, 24 states have legalized recreational weed in America, in addition to the District of Columbia. However, possessing or selling marijuana remains a crime under federal law, punishable by prison time and fines. With that said, here are the Best Marijuana Stocks According to Billionaires. A close-up of a package of cannabis accessories, displayed on a brightly-lit retail shelf. To collect data for this article, we scanned Insider Monkey's database of billionaires' stock holdings and picked the top 10 companies operating in the cannabis sector with the highest number of billionaire investors in Q4 of 2024. When two or more companies had the same number of billionaires backing them, we ranked them by the revenue of their last financial year. Following are the Best Marijuana Stocks to Invest in According to Billionaires. At Insider Monkey, we are obsessed with the stocks that hedge funds pile into. The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). Number of Billionaire Holders: 3 Advanced Flower Capital Inc. (NASDAQ:AFCG) is a leading commercial mortgage REIT that provides institutional loans to state law compliant cannabis operators in the US. The company originates, structures, underwrites, and manages loans ranging from $10 million to over $100 million, providing relief to a sector that faces severe financial and banking issues due to federal illegalization. Advanced Flower Capital Inc. (NASDAQ:AFCG) had a tough Q4 2024 as it reported an EPS of -$0.05, significantly below estimates by $0.41. The company's revenue of $7.64 million was also down by almost 52.2% YoY and missed expectations by $4.12 million. However, AFCG stated that its active pipeline remains strong, with over $380 million in deals as of March 1, 2025. Moreover, it ended the year 2024 with total assets of $402.1 million, including cash and cash equivalents of $103.6 million. Despite the tough financials, the firm announced a dividend of $0.23 per share for Q1 2025, though it was a 30.3% decrease from the previous dividend of $0.33. AFCG has previously declared that its dividend policy is to pay between 85% and 100% of distributable earnings over the year. Shares of Advanced Flower Capital Inc. (NASDAQ:AFCG) have plunged by almost 25% since the beginning of the year. Overall, AFCG ranks 10th on our list of the best cannabis stocks to buy according to billionaires. While we acknowledge the potential for AFCG to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AFCG but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds' investor letters by entering your email address below. Sign in to access your portfolio
Yahoo
12-02-2025
- Business
- Yahoo
Advanced Flower Capital Schedules Earnings Release and Conference Call for the Fourth Quarter and Full Year Ending December 31, 2024
WEST PALM BEACH, Fla., Feb. 12, 2025 (GLOBE NEWSWIRE) -- Advanced Flower Capital Inc. (f/k/a AFC Gamma, Inc.) (Nasdaq: AFCG) ('AFC') today announced that it will release its financial results for the fourth quarter and full year ended December 31, 2024 on Thursday, March 13, 2025 before market open. Management will review AFC's financial results at 10:00 am ET via webcast available on the Investor Relations website at Participants are also invited to access the conference call by registering in advance at this link. A replay will be available one hour after the event. AFC distributes its earnings releases via its website and email lists. Those interested in receiving firm updates by email can sign up for them here. About Advanced Flower Capital Inc. Advanced Flower Capital Inc. (Nasdaq: AFCG) is a leading commercial mortgage REIT that provides institutional loans to state law compliant cannabis operators in the U.S. Through the management team's deep network and significant credit and cannabis expertise, AFC originates, structures and underwrites loans ranging from $10 million to over $100 million, typically secured by quality real estate assets, license value and cash flows. It is based in West Palm Beach, Florida. For additional information regarding the Company, please visit Investor Relations Contact Robyn Tannenbaum561-510-2293 ir@ Media Contact Profile AdvisorsRich Myers & Rachel Goun347-774-1125srt@ in to access your portfolio
