AFC Gamma Announces SUNS Spin-off and Special Dividend

AFC Gamma (AFCG) has issued an announcement.

Sunrise Realty Trust, Inc. (SUNS), born from AFC Gamma, Inc.’s commercial real estate portfolio, has announced its upcoming independence through a spin-off, with SUNS shares set to trade on Nasdaq under the ticker “SUNS” starting July 9, 2024. AFC Gamma shareholders will receive SUNS stock in a three-for-one share distribution, set for completion before market opening on the same date. Additionally, AFC Gamma is set to pay a special dividend on July 15, 2024. This strategic move aims to enable focused growth and attract investors with tailored investment opportunities, although it comes with the usual caveats of forward-looking statements.

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