AFC Q2 NII Hits $0.15/Share, NAV Climbs to $8.25 on Buyback Accretion
AFCG sits 37% above its 52-week low of $2.06.
Summary
AFC reported Q2 GAAP net investment income of $3.5M, or $0.15 per share, down from $0.21 in Q1 but still covering the $0.05 distribution. NAV per share rose to $8.25 from $7.90, boosted by $0.17 of accretion from repurchasing 839,406 shares at $3.29 — a 60% discount to NAV. The portfolio grew to $289.8M across 17 companies, with 100% senior secured first lien exposure and a 13.2% weighted average yield. Liquidity remains strong at over $70M, and debt-to-equity is a manageable 1.10x. This follows the June 18 buyback announcement and the June 30 credit facility expansion to $110M, showing management actively using capital to support NAV. The key risk remains the $78.8M Justice Cannabis loan in litigation, which is not resolved in this release.
At the time of this announcement, AFCG was trading at $2.82 on NASDAQ in the Finance sector, with a market capitalization of approximately $64.3M. The 52-week trading range was $2.06 to $5.10. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.