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AFC Gamma Inc (NASDAQ: AFCG) Increases Quarterly Dividend by 13.2% per Share, and the Group Expands its Senior Secured Credit Facility with Devi Holdings, Inc. by $30 Million



AFC Gamma Inc (NASDAQ: AFCG) recently announced a dividend for the quarter ending September 30, 2021. The board of directors of the company made an official announcement about the respective quarterly ending. As per the announcement, common stockholders are eligible for $0.43 per outstanding share of common stock. The amount is payable on October 15, 2021, to the company’s common stockholders as of September 30, 2021. The dividend sanctioned by the company in September is higher than what the company offered in June. An approximate 13.2% increase is provided in the September quarterly dividend compared to $0.38 in the June quarterly dividend. 

AFC Gamma Inc expands existing senior secured credit facility with Devi Holdings, Inc

AFC Gamma Inc announced that the group had expanded its ongoing senior secured credit facility with Devi Holdings, Inc. As a result, the respective continuous credit facility is expanded by a whopping $30 Million. 

It has come to light that Devi Holdings Inc. is doing business as Nature’s Medicines, which is a multi-state operator headquartered in Phoenix, Arizona. The credit facility, it is learned, is designed and developed to provide Nature’s Medicines. 

The partnership will help achieve meaningful business goals

The partnership will go a long way in helping the group business goals, expressed Leonard M. Tannenbaum, Chief Executive Officer of AFC Gamma Inc. The group’s CEO went on record and added that the company is undeterred with its committeemen of working near borrowers as they grow their business from one stage to the other. Tannenbaum said that the corporate house would work on building long-lasting relationships. 

Nature’s Medicines is looking forward to seeking the support of AFC Gamma Inc

Nature’s Medicines aim to expand its footprint and position itself as a leading multi-state operator. At this juncture, the group depends on the support offered by AFC Gamma Inc to help it achieve this goal. Jigar Patel, who serves as Chief Executive Officer of Nature’s Medicines, went on record and stated that since May 2020, AFC Gamma Inc has provided support that has helped Nature’s Medicines streamline its capital structure and work on achieving its business growth initiatives.

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