AFC Gamma, Inc. acquired 46.75% stake in Amma Investment Group LLC for $8.8 million.
January 31, 2018
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AFC Gamma, Inc. (NasdaqGM:AFCG) acquired 46.75% stake in Amma Investment Group LLC for $8.8 million on January 1, 2019. As per the terms of the deal, AFC Gamma, Inc. exercised an option to acquire 46.75% stake in Amma Investment Group LLC. As consideration, AFC Gamma, Inc. issued 12.52 million shares valued at $0.38 million, cash component of $0.74 million and debt of $0.76 million.
AFC Gamma, Inc. (NasdaqGM:AFCG) completed the acquisition of 46.75% stake in Amma Investment Group LLC on January 1, 2019.
AFC Gamma, Inc. is an institutional lender to the commercial real estate sector. The Company primarily originates, structures, underwrites, invests in and manages senior secured loans and other types of commercial real estate loans and debt securities, with a specialization in loans to cannabis industry operators in states that have legalized medical and/or adult-use cannabis. The Companyâs objective is to provide attractive risk-adjusted returns over time through cash distributions and capital appreciation primarily by providing loans to real estate developers and state-law compliant cannabis companies. The loans it originates are primarily structured as senior loans secured by real estate, equipment, value associated with licenses (where applicable) and/or other assets of the loan parties to the extent permitted by applicable laws and the regulations governing such loan parties. The Company targets investing strategically across multiple real estate sectors.
AFC GAMMA, INC. 
