AFC Gamma, Inc. (NASDAQ:AFCG) announced on Monday that it has closed a new senior secured credit facility for Private Company Q and expanded its existing senior secured credit facilities for BeLeaf Medical, LLC and Sunburn Cannabis.
What Happened & Why It Matters
AFC said it has committed $11 million, with $4.3 million funded at closing, in a senior secured credit facility to Georgia-based Private Company Q which holds a Class 2 cannabis license. The funds would support the buildout of a cultivation and processing facility and the creation of two new dispensary locations in the Peach State.
The Florida-based company also committed an additional $5.5 million under the expansion of BeLeaf Medical, LLC's facility and holds the entire $26.1 million expanded credit facility. AFC Gamma first provided a credit facility of $23 million to BeLeaf in 2021. BeLeaf plans to partially finance the acquisition of two dispensaries ...
