AmBase enters $300K promissory note with CEO at 7% interest for working capital

AmBase Corp

CEO Richard Bianco loans $300,000 at 7% annual interest for working capital, due Oct 31, 2025 or earlier upon receipt of sufficient funds.
Bianco may convert outstanding amounts into a litigation funding agreement pari passu with any such agreement.
Company is also seeking approximately $7M in funding from third parties, shareholders, or management.
No assurance of securing additional funding; company continues to pursue legal remedies regarding 111 West 57th Property.

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