WEST PALM BEACH, Fla., Oct. 07, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) ("Advanced Flower Capital" or "AFC") today announced that it has committed and funded $41 million to a senior secured credit facility to Story of Maryland, LLC ("Story MD"), a leading, vertically integrated operator in Maryland. Story MD intends to use the proceeds from the credit facility to refinance existing debt and provide working capital.
"One of my top priorities since joining AFC has been to reinvigorate our origination engine, and I'm thrilled to announce that with this transaction, we have exceeded our 2024 goal of $100 million in new originations. This is our second transaction with Story Cannabis, a leading private multi-state operator and a great example of the Cannabis 3.0 lending opportunities that we are excited to finance. This is a proven team that knows how to scale and operate in cannabis, and we couldn't be more excited to support their continued growth," said ...
