---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-024103"
form_type: "8-K"
ticker: "ABCP"
cik: "0000020639"
company_name: "AmBase Corp"
filed_at: "2023-05-11T23:59:59+00:00"
generated_at: "2026-06-15T05:02:06.954189+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# AmBase enters $310K promissory note with CEO at 6.5% for working capital

## Summary
- $310,000 loan from Chairman/CEO Richard A. Bianco at 6.5% per annum, due May 31, 2025 or upon receipt of funds excluding litigation funding for 111 West 57th property.
- Note can be converted at Bianco's option into a litigation funding agreement pari passu with any other litigation funding.
- Company is seeking to raise approximately $7M via litigation funding, equity, debt, or loans from third parties, shareholders, or management.
- No financial results or guidance in this filing; working capital loan addresses near-term liquidity.

## SEC filing metadata
- accession: 0001140361-23-024103
- form_type: 8-K
- ticker: ABCP
- cik: 0000020639
- company_name: AmBase Corp
- filed_at: 2023-05-11T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/20639/000114036123024103/0001140361-23-024103-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/20639/000114036123024103/brhc20052772_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-024103
- JSON: https://secwatch.observer/filing/0001140361-23-024103.json
- Plain text: https://secwatch.observer/filing/0001140361-23-024103.txt

## Key facts
- Material Agreements
  AmBase Corp entered into Senior Promissory Note with Richard A. Bianco valued at $310,000 at 6.5% per annum (effective 2023-05-01).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Richard A. Bianco
  - Value: $310,000 at 6.5% per annum
  - Effective: 2023-05-01
  source text: In May 2023, AmBase Corporation (the “Company”) and Mr. Richard A. Bianco, the Company’s Chairman, President and Chief Executive Officer (“Mr. R. A. Bianco”) entered into a Senior Promissory Note for Mr. R. A. Bianco to provide a loan to the Company of three hundred ten thousand dollars ($310,000) at an interest rate of 6.5% per annum, (the “Promissory Note”), for working capital.
  evidence_url: https://www.sec.gov/Archives/edgar/data/20639/000114036123024103/0001140361-23-024103-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.