ADDED
The determination of affiliate status is solely for the purpose of this report and shall not be construed as an admission for the purposes of determining affiliate status.
federal income tax purposes; estimates relating to our ability to make distributions to our shareholders in the future; our understanding of our competition; market trends in our industry, interest rates, real estate values, the securities markets or the general economy; we may issue shares of preferred or common stock in the future, which could dilute your percentage ownership of SUNS; use of proceeds of our securities offerings; and litigation, including costs associated with prosecuting or defending claims and any adverse outcomes.
federal income tax purposes for its taxable year ended December 31, 2024, and made its first investment in January 2024.
Spin-Off In July 2024, we separated from Advanced Flower Capital Inc.
The separation was effected by the transfer of AFC s commercial real estate portfolio from AFC to us, and the distribution of all of the outstanding shares of our common stock to all of AFC s stockholders of record (the Distribution ) as of the close of business on July 8, 2024 (the Record Date ).
As a result of the Spin-Off, we are now an independent, public company trading under the symbol SUNS on The Nasdaq Stock Market ( Nasdaq ).
We may also originate a whole loan and subsequently create a mezzanine loan by partnering with a senior lender (likely a national or regional bank, or an insurance company), who will acquire the senior portion of the loan from us.
Those states/districts include AL, AR, AZ, DE, FL, GA, KY, LA, MD, MS, NC, NM, NV, OK, SC, TN, TX, UT, VA, WV and D.C.
Our Loan Origination Pipeline As of February 27, 2026 , we had a potentially actionable pipeline through the TCG Real Estate platform of approximately $0.7 billion of commercial real estate deal commitments under review by our Manager and its affiliates, including one signed, non-binding term sheet totaling approximately $35 million of commitments, of which we expect to be allocated a portion.
While the Federal Reserve made three rate cuts in each of 2024 and 2025, there is uncertainty as to the timing and extent of future rate cuts in light of ongoing inflationary challenges and generally resilient macroeconomic data.
REMOVED
Therefore, the aggregate market value of its voting and non-voting common equity held by non-affiliates as of such date was $ 0 .
The registrant s common stock began trading on the Nasdaq Capital Market (the Nasdaq ) on July 10, 2024 under the symbol SUNS.
federal income tax purposes and that made its first investment in January 2024.
(f/k/a AFC Gamma, Inc.) ( AFC or the Former Parent ) announced a plan to separate into two independent, publicly traded companies.
Prior to the Spin-Off (as defined below), the Company held AFC s CRE portfolio as a wholly-owned subsidiary of AFC.
On July 9, 2024, AFC completed the separation of its CRE portfolio (the Separation ) through the spin-off of the Company from AFC (the Spin-Off ) through a pro-rata distribution of all of the outstanding shares of our common stock to all of AFC s shareholders of record (the Distribution ) as of the close of business on July 8, 2024 (the Record Date ).
AFC s shareholders of record as of the Record Date received one share of our common stock for every three shares of AFC common stock held as of the Record Date.
The Spin-Off was completed on July 9, 2024 (the Distribution Date ).
On the Distribution Date, SUNS became an independent, publicly traded company, trading on the Nasdaq Capital Market under the symbol SUNS.
AFC retained no ownership interest in us following the Spin-Off.