AmBase CEO provides $100K loan at 7% for working capital; company also plans $8.8M equity offering

AmBase Corp

CEO Richard A. Bianco loans $100,000 at 7.0% interest, due Feb 28, 2026 or upon receiving sufficient funds from sources excluding litigation funding.
Loan proceeds provide working capital until completion of private placement of 44.2M shares at $0.20/share for ~$8.8M gross proceeds.
Amounts due under note can be converted into a litigation funding agreement pari passu with any third-party funder, at CEO's option.
Company's financial statements have a going concern qualification; continues litigation related to 111 West 57th property.

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