O'Melveny-Led Cannabis Finance REIT Readies $100M IPO

By Andrew McIntyre (February 3, 2021, 5:01 PM EST) -- AFC Gamma, a Florida-based real estate investment trust that finances cannabis ventures, set terms Wednesday for a roughly $100 million initial public offering steered by O'Melveny & Myers and underwriters' counsel Cozen O'Connor.

AFC Gamma Inc. said in a filing with the U.S. Securities and Exchange Commission on Wednesday that it plans to sell 5,555,555 shares at a price between $17 and $19 each. The offering would be worth $100 million if shares sold at the $18 midpoint.

AFC Gamma was founded in July and makes loans to cannabis companies. As of Dec. 26, the firm had made a total of...

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