AmBase to raise ~$8.8M via private placement of 44.2M shares at $0.20/sh to fund operations and litigation

AmBase Corp

Private placement of 44,200,460 shares at $0.20/sh; expected gross proceeds ~$8.8M.
Only existing accredited stockholders as of Feb 28, 2024 can subscribe up to 108.5% of pro rata share.
BARC Investments, LLC (affiliate of directors Bianco) will standby-purchase any unsubscribed shares.
Proceeds to fund operations, litigation on 111 West 57th Property, and repay obligations.
Company has going-concern qualification; also exploring up to $5M in third-party litigation funding.

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