Certain Options of AFC Gamma, Inc. are subject to a Lock-Up Agreement Ending on 15-SEP-2021.
September 15, 2021
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Certain Options of AFC Gamma, Inc. are subject to a Lock-Up Agreement Ending on 15-SEP-2021. These Options will be under lockup for 181 days starting from 18-MAR-2021 to 15-SEP-2021.
Details:
Each of executive officers and directors have agreed with the underwriters not to offer, sell or otherwise dispose of any common stock or any securities convertible into or exercisable or exchangeable for or that represent the right to receive common stock or any rights to acquire common stock for a period of 180 days after the date of this prospectus, with certain limited exceptions, without first obtaining the written consent of JMP Securities LLC, the representative of the underwriters. Specifically, company and these other persons have agreed, with certain limited exceptions, not to directly or indirectly offer, pledge, sell or contract to sell any common stock, sell any option or warrant to purchase any common stock, purchase any option or warrant to sell any common stock, grant any option or warrant for the sale of any common stock, lend or otherwise transfer or dispose of any common stock, exercise any right with respect to the registration of any common stock or other securities or enter into any swap or other agreement or transaction that transfers, in whole or in part, directly or indirectly, the economic consequence of ownership of any common stock whether any such swap, agreement or transaction is to be settled by the delivery of shares of common stock or other securities, in cash or otherwise.
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.