AFCG - AFC Gamma Announces Record Date and Special Dividend for Spin-Off of Commercial Real Estate Portfolio | Benzinga
Record Date for Distribution of Sunrise Realty Trust to be July 8, 2024
Distribution Date Expected to be July 9, 2024
Board of Directors Declares $0.15 per Share Spin-Off Special Dividend
WEST PALM BEACH, Fla., June 27, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) ("AFC Gamma") today announced that the previously announced spin-off of its commercial real estate portfolio is expected to be completed on July 9, 2024. The commercial real estate portfolio will spin-off into a new independent, publicly-traded REIT, Sunrise Realty Trust, Inc. ("SUNS").
Holders of AFC Gamma common stock as of the close of business on July 8, 2024 (the "Record Date") will be entitled to receive one share of new SUNS common stock for every three shares of AFCG common stock held. The distribution is expected to occur prior to the opening of trading on July 9, 2024, and shares of SUNS common stock will begin trading on Nasdaq under the symbol "SUNS". AFC ...