Quarterly ResultMay 7, 2026, 07:37 AM
Advanced Flower Capital Converts to BDC; Q1 Net Assets from Ops $11.4M
AI Summary
Advanced Flower Capital Inc. announced its conversion to a Business Development Company (BDC) effective January 1, 2026, adopting investment company accounting. For the three months ended March 31, 2026, the company reported a net increase in net assets resulting from operations of $11.4 million. Net investment income for the quarter was $4.8 million, or $0.21 per share, contributing to total net assets of $185.8 million. The company also declared distributions of $0.05 per share.
Key Highlights
- Converted to Business Development Company (BDC) effective January 1, 2026.
- Net increase in net assets from operations was $11.4 million for Q1 2026.
- Net investment income reached $4.8 million, or $0.21 per share, in Q1 2026.
- Total net assets increased to $185.8 million as of March 31, 2026.
- Net asset value per share was $7.90 at March 31, 2026.
- Cash and cash equivalents rose to $112.7 million from $38.6 million.
- Declared distributions of $0.05 per share ($1.18 million total) for Q1 2026.
- Total investments at fair value were $279.2 million as of March 31, 2026.