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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