Advanced Flower Capital’s shares surged 16.2% after the first quarter report, driven primarily by investors’ positive reaction to the company’s expansion into the lower middle market and its growing pipeline of non-cannabis private credit deals.
- Completed first quarter operating as a BDC, broadening investment flexibility beyond cannabis-backed loans.
- Closed two lower middle market loans totaling $90 million during the quarter, with strong pipeline of $1.5 billion in potential deals.
- Reported net investment income of $0.21 per share and declared a $0.05 per share dividend.
- Received $41.2 million in cannabis loan repayments during Q1, contributing to net fundings of $39.1 million.
- Maintains three non-accrual loans with ongoing asset liquidation and paydowns; $6.2 million received in Q1 toward one distressed investment.
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