Afc Gamma Enters Into $60 Million Senior Secured Revolving Credit Facility With Commitments From Two Fdic-Insured Banks

AFC Gamma, Inc. (NASDAQ:AFCG) (“AFC Gamma”) today announced that it has entered into a senior secured revolving credit facility (“Credit Facility”) with $60 million of current commitments from two FDIC-insured banks and the ability to increase the facility to $100 million. The two banks have over $70 billion of assets in the aggregate. AFC Gamma intends to use the available capital from the Credit Facility to fund unfunded commitments under loans to its existing borrowers, to originate and participate in commercial loans to cannabis operators that are consistent with its investment strategy, and for working capital and other general corporate purposes.