News

AFC Gamma Secures $41M Credit Line For Cannabis Operator

AFC Gamma Secures $41M Credit Line For Cannabis Operator

AFC Gamma Secures Major Funding for Cannabis Operator

AFC Gamma, Inc. has announced a significant financial commitment by funding a $41 million senior secured credit facility to support a vertically integrated cannabis operator in Maryland. This marks an important milestone for the Florida-based company, reflecting its strategic growth within the cannabis finance sector.

Second Transaction with Story of Maryland

This latest agreement represents AFC Gamma's second engagement with Story of Maryland, LLC. In recent months, the operator has been at the forefront of pivotal developments within the cannabis sector, making waves with its innovative approaches and commitment to operational excellence.

Company Leadership Comments on Growth

According to Daniel Neville, the CEO of AFC Gamma, the company has already exceeded its ambitious target of $100 million in new originations anticipated for 2024. He emphasized that Story MD exemplifies the emerging opportunities in the Cannabis 3.0 lending landscape, aligning perfectly with their strategic objectives.

Supporting Growth in the Cannabis Sector

"This is a proven team that knows how to scale and operate in the cannabis industry, and we couldn't be more excited to support their continued growth," Neville stated. This collaboration offers a solid foundation for Story MD, allowing them to further enhance their capabilities and expand their market reach.

Purpose of the Funding

The funds secured through this credit facility will enable Story MD to refinance existing debts and bolster its working capital. This infusion of capital is expected to empower the company to undertake new growth initiatives and enhance their operational framework significantly.

Statement from Story Cannabis CEO

Jason Vedadi, the CEO of Story Cannabis, expressed gratitude towards AFC Gamma for the opportunity provided by this financing. He mentioned, "This financing further strengthens Story's balance sheet by providing additional working capital and allows Story to fund additional growth initiatives," underlining the positive impact of this financial support.

Details of the Credit Facility

AFC Gamma maintains the entire credit facility for Story MD, which comprises a first-lien term loan secured by the borrower’s real property as well as the value associated with its cannabis licenses and operations in Maryland. This solid backing emphasizes AFC’s commitment to fostering sustainable cannabis operations.

AFC Gamma's Market Positioning

As a commercial mortgage REIT, AFC Gamma specializes in providing loans to state-compliant cannabis operators. The recent announcements and transactions reflect a growing confidence in the cannabis industry and highlight AFC Gamma's pivotal role in its financial ecosystem.

Recent Performance Update

In addition to securing funding, last month, AFC Gamma announced a quarterly dividend of $0.33 per common share, a notable achievement as it marks the company's first dividend post-spin-off. This development showcases their financial health and commitment to shareholder value, with the dividend payable on a specified date, reflecting their strategic financial planning.

AFCG Stock Performance

On Monday, AFC Gamma's shares saw a modest increase of 0.51%, trading at $9.91 per share. This positive momentum indicates investor confidence in the company's ongoing growth strategies and its significant role within the cannabis financing space.

Frequently Asked Questions

What recent funding did AFC Gamma, Inc. announce?

AFC Gamma announced a $41 million senior secured credit facility for a cannabis operator in Maryland.

Who is the cannabis operator involved in this transaction?

The transaction is with Story of Maryland, LLC, marking AFC Gamma's second commitment to them.

What are the intended uses for the new funds?

The proceeds will be used to refinance existing debt and provide working capital for further growth.

What did Daniel Neville say about the company's performance?

Daniel Neville stated that AFC Gamma has exceeded its 2024 goal of $100 million in new originations.

What recent dividend did AFC Gamma announce?

AFC Gamma announced a $0.33 per common share dividend, marking its first dividend since the spin-off.

About The Author

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.

Top 10 Most Recent News Articles

Farm Aid 2026: A Resilient Tribute to Family Farmers

Updated Category News Views 3

Shining a Light on Essential Family Farmers Every year, thousands gather for Farm Aid to back the unsung heroes who put food on our plates. In 2026, the scene shifted to the amphitheater at Virginia Beach, where an epic lineup of music took stage not just to entertain but to underline a critical issue—family farmers are fighting for survival. These folks aren't merely...

Continue Reading
HONA Faces Legal Heat: Investor Lawsuit Over Losses

Updated Category News Views 6

The Investor Storm Brewing Over Honeywell Aerospace There it is again, another industry heavyweight caught in a dizzying whirlwind of litigation. Honeywell Aerospace Inc. (NASDAQ:HONA), a name as established as an old boot in the business, now faces a class action lawsuit that's got investors frantically dusting off phone numbers for their attorneys. The Messy Allegations...

Continue Reading
CVS Health Under Fire: Fiduciary Duty Breach?

Updated Category News Views 2

CVS Under Regulatory Spotlight for Fiduciary Breaches You'd think by now companies would have their fiduciary ducks in a row. But here we are, with CVS Health Corporation (NYSE: CVS) catching heat from the legal eagles over at Halper Sadeh LLC. The knife’s out for some of the big wigs – apparently, there's chatter they might’ve slipped on their duty to play nice...

Continue Reading
Timur Turlov Leads FIDE with Chess and Digital Focus

Updated Category News Views 2

An Unpredicted Victory in Samarkand Well, color me surprised. Timur Turlov's made waves by clinching the role of FIDE President at the General Assembly in Samarkand. This one's quite the turn for the chess world—Kazakhstan’s own stepping up to run the whole show. This isn't just some ceremonial post either. Turlov, who's been pulling strings over at the Kazakhstan...

Continue Reading
Krispy Kreme Faces Legal Probe: Fiduciary Breach?

Updated Category News Views 3

Diving Deep into the Krispy Kreme Allegations Look, this isn't your run-of-the-mill donut drama. When you hear rumblings of corporate missteps, especially ones that involve potential breaches of fiduciary duties, it's time to perk up those ears. Over at Krispy Kreme, Inc. (NASDAQ:DNUT), there's some heat in the kitchen, and it's not just from frying those glazed beauties....

Continue Reading
China Southern Airlines Marks 70th Anniversary in NYC

Updated Category News Views 3

Taking Flight with Legacy and Tradition Throwing a bash on Times Square isn't just about flash; it's about letting folks know you mean business. And China Southern Airlines has been doing just that for 70 years. Imagine starting from Guangzhou and ending up splashed across New York City's giant LED screens—talk about a journey! From Humble Roots to Global Network...

Continue Reading
AI and Storytelling Make Waves in Science Education

Updated Category News Views 5

University's Innovative Approach to Learning Alright, here's something you don't see every day. The University of Phoenix managed to snag some kudos from an academic journal for using AI and storytelling to teach environmental science. That's like hitting two bulls-eyes with one shot in the world of education. The recognition from Glacies for this Editor's Choice paper...

Continue Reading
Cut Winter Heating Costs with Townsend's Rebate Help

Updated Category News Views 4

Unseen Perils of Winter Heating in Massachusetts Massachusetts homeowners, listen up. If your heating system is older than the Model T, it's time to rethink your winter strategy. You don't want to be stuck in the cold when the thermometer hits single digits, do you? That's where Townsend comes in, making waves with their rebate assistance program. Navigating the Rebate...

Continue Reading
Quay Sunglasses: Luxury Looks, Affordable Prices

Updated Category News Views 3

Ah, sunglasses—the quintessential accessory that screams both practicality and style. A million-dollar look without the million-dollar expense? That's where Quay comes in. They've been recognized by Expert Consumers, no less, as some of the best-in-class for affordable luxury eye candy out there—aimed at shoppers who want the designer vibe without the hemorrhaging...

Continue Reading
Jackson Wang's Fantasy IP Hits Hong Kong Stage

Updated Category News Views 5

A Star-Studded Fantasy Comes Alive Hong Kong isn't just about dim sum and skyline views—it's a magnet for celebrity showcases, and this time, Jackson Wang's pulling the strings. The guy's ventured beyond music and idol fame, diving head-first into creative visuals with his fantasy IP, "Under the Castle" (UTC). Pairing up with Ocean Park's Halloween Fest, he's cooked up...

Continue Reading

Top 5 Most Recently Viewed Articles

Exploring Three Dividend Stocks with Promising Q3 Earnings

Updated Category News Views 168

Understanding the Value of Dividend Stocks in Uncertain Times As parents often find themselves navigating dinner-time dilemmas with their children, financial advisors face similar challenges in guiding investors through market dynamics. Just as you strive to balance your child’s diet, advisors must help clients build sturdy portfolios that include dividend-paying...

Continue Reading
Vast Secures $30 Million to Boost Green Energy Manufacturing

Updated Category News Views 81

Vast Receives Major Funding for Renewable Energy Technology Vast Renewables Limited (NASDAQ: VSTE) has announced a significant funding agreement with the Australian Renewable Energy Agency (ARENA), unlocking up to $30 million to enhance their green technology initiatives. This funding is part of a $65 million grant and will primarily support the development and...

Continue Reading
NextGen Digital Platforms Enhances Financial Flexibility with New Filing

Updated Category News Views 155

NextGen Digital Platforms Inc. Files New Base Shelf Prospectus NextGen Digital Platforms Inc. (CSE:NXT) (OTCQB:NXTDF) (FSE:Z12) is excited to share that it has submitted a preliminary short form base shelf prospectus to the securities authorities across Canada. This strategic move is aimed at providing the company with expanded financial flexibility for its future...

Continue Reading
CVG Sees Challenges in Q3 2025 Earnings Report Amid Decline

Updated Category News Views 153

CVG's Latest Financial Performance Update In the latest earnings report, CVG, known as Commercial Vehicle Group, Inc. (NASDAQ: CVGI), unveiled its financial results for the third quarter of 2025, reflecting a significant period of adjustment amidst fluctuating market demands. The company reported total revenues of $152.5 million for the quarter, marking an 11.2% decline...

Continue Reading
Caret Digital Receives $100 Million for Renewable Energy Goals

Updated Category News Views 239

Caret Digital Secures Major Funding for Renewable Energy Initiatives Caret Digital has made a groundbreaking move by securing a substantial commitment of $100 million from GGY. This funding plays a crucial role in the company’s quest to harness renewable energy for demanding applications like cryptocurrency mining and AI-driven data centers. This pivotal investment...

Continue Reading