Advanced Flower Capital Inc. 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds Recent Sales of Unregistered Securities None. 54 Index Issuer Purchases of Equity Securities On May 4, 2026, the Company’s Board authorized a program for the purpose of repurchasing up to $5.0 million of the Company's common stock (the “Repurchase Program”). Under the Repurchase Program, the Company may, but is not obligated to, repurchase its outstanding common stock in the open market from time to time, provided that the Company complies with the prohibitions under its compliance policies and procedures adopted in accordance with Rule 38a-1 under the 1940 Act and a code of ethics adopted pursuant to Rule 17j-1 under the 1940 Act. and the guidelines specified in Rule 10b-18 under the Securities Exchange Act of 1934, as amended, including certain price, market, volume, and timing constraints. In addition, any repurchases will be conducted in accordance with the 1940 Act. Unless amended or extended by the Company’s Board, the Company expects the Repurchase Program to be in place until the earlier of such time that $5.0 million of the Company's outstanding shares of common stock have been repurchased, or May 4, 2027. The following table summarizes the Company’s common stock repurchased under our Repurchase Program during the three months ended June 30, 2026: Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Maximum Approximate Dollar Value of Shares that May Yet Be Purchased Under the Program April 1, 2026 to April 30, 2026 — $ — — $ 5,000,000 May 1, 2026 to May 31, 2026 589,529 3.28 589,529 3,064,482 June 1, 2026 to June 30, 2026 249,877 3.31 249,877 2,236,941 Total 839,406 $ 3.29 839,406 $ 2,236,941 Item 3. Defaults Upon Senior Securities None. Item 4. Mine Safety Disclosures Not applicable.