Cozen O'Connor Represents Underwriters in Cannabis Finance REIT Readies $100M IPO

Wednesday, February 3, 2021

AFC Gamma, a Florida-based real estate investment trust that finances cannabis ventures, set terms for a roughly $100 million initial public offering. AFC Gamma Inc. said in a filing with the U.S. Securities and Exchange Commission that it plans to sell 5,555,555 shares at a price between $17 and $19 each. AFC Gamma was founded in July 2020 and makes loans to cannabis companies. As of December 26, 2020, the firm had made a total of $92.5 million in loans to eight borrowers, according to its most recent SEC filing. Christopher Bellini and Seth Popick represented the underwriters.

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