AFC Gamma Successfully Exits $84.0 Million Loan to Subsidiary of Public Company H [Yahoo! Finance]
AFC Gamma, Inc. (AFCG)
Company Research
Source: Yahoo! Finance
This was AFC Gamma's largest loan in its portfolio and during our last earnings call, we noted that the borrower failed to make its April interest payment in May. Through active portfolio management, AFC Gamma is pleased to announce that it has sold the loan to a third-party at par plus accrued, which generated a 19.9% internal rate of return (“IRR”) over the life of the loan. “When I joined AFC, I was focused on reducing exposure to underperforming credits through proactive portfolio management. This exit demonstrates our commitment to working through challenging loans to deliver value for our shareholders. We look forward to redeploying the capital into deals with strong risk adjusted returns and further diversifying our portfolio,” said Daniel Neville, AFC Gamma's Chief Executive Officer. “Furthermore, we are pleased to exit the largest loan in our portfolio and generate an IRR of 19.9% for our shareholders.” About AFC Gamma, Inc. AFC Gamma, Inc. (NASDAQ: AFCG) is a publicly-
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AFCG
News
- AFC Gamma Announces Second Quarter 2024 Dividend [Yahoo! Finance]Yahoo! Finance
- AFC Gamma Announces Second Quarter 2024 DividendGlobeNewswire
- Co-Founder & Executive Chairman of AFC Gamma Leonard Tannenbaum Buys 1.6% More Shares [Yahoo! Finance]Yahoo! Finance
- AFC Gamma Successfully Exits $84.0 Million Loan to Subsidiary of Public Company HGlobeNewswire
- AFC Gamma, Inc. (NASDAQ: AFCG) was downgraded by analysts at Compass Point from a "neutral" rating to a "sell" rating. They now have a $10.00 price target on the stock.MarketBeat
AFCG
Earnings
- 5/9/24 - Beat
AFCG
Sec Filings
- 6/6/24 - Form 4
- 5/23/24 - Form 8-K
- 5/20/24 - Form 8-K
- AFCG's page on the SEC website