AFC Gamma, Inc. Announces Launch of Common Stock Offering

AFC Gamma, Inc. (“AFC Gamma”) (Nasdaq: AFCG), a commercial real estate finance company that provides loans to operators in the cannabis industry, today announced that it has launched an underwritten public offering (the “Offering”) of 3,000,000 shares of its common stock. AFC Gamma intends to grant the underwriters of the Offering a 30-day option to purchase up to an additional 450,000 shares of common stock.

AFC Gamma intends to use the net proceeds from the Offering to fund loans related to unfunded commitments to its existing borrowers, to originate and participate in commercial loans to companies operating in the cannabis industry that are consistent with its investment strategy, and for working capital and other general corporate purposes.

Jefferies and Cowen are acting as joint book-running managers for the Offering, with JMP Securities also acting as a bookrunner, and EF Hutton, division of Benchmark Investments, LLC, and Seaport Global Securities acting as passive bookrunners.

A registration statement (as amended, the “Registration Statement”) relating to these securities has been filed with the Securities and Exchange Commission (the “SEC”) but has not yet become effective. The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the Offering may be obtained by using EDGAR on the SEC website at www.sec.gov or by contacting: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, telephone: 1-877-821-7388 or e-mail: Prospectus_Department@Jefferies.com; and/or Cowen and Company, LLC, Attn: Prospectus Department, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, by email at PostSaleManualRequests@broadridge.com, or by telephone at 833-297-2926.

These securities may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

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