---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-24-010156"
form_type: "8-K"
ticker: "ABCP"
cik: "0000020639"
company_name: "AmBase Corp"
filed_at: "2024-02-28T23:59:59+00:00"
generated_at: "2026-06-05T09:43:45.358360+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# AmBase launches $8.8M private placement of 44.2M shares at $0.20, standby purchaser from insiders

## Summary
- Gross proceeds of ~$8.8M from sale of 44.2M shares at $0.20 each to existing accredited stockholders.
- BARC Investments (affiliate of directors Bianco) will buy unsubscribed shares, ensuring full subscription.
- Proceeds intended to fund 111 West 57th Property litigation and repay obligations; exploring additional $5M litigation funding.
- Shares offered under Rule 506(c); restricted six months; company will seek increase in authorized shares at 2024 annual meeting.

## SEC filing metadata
- accession: 0001140361-24-010156
- form_type: 8-K
- ticker: ABCP
- cik: 0000020639
- company_name: AmBase Corp
- filed_at: 2024-02-28T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/20639/000114036124010156/0001140361-24-010156-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/20639/000114036124010156/ef20022733_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-24-010156
- JSON: https://secwatch.observer/filing/0001140361-24-010156.json
- Plain text: https://secwatch.observer/filing/0001140361-24-010156.txt

## Key facts
- Material Agreements
  AmBase Corp entered into Standby Purchase Agreement with BARC Investments, LLC valued at BARC to purchase its pro rata share and all unsubscribed Shares at $0.20 per Share; granted preempti (effective 2024-02-28).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: BARC Investments, LLC
  - Value: BARC to purchase its pro rata share and all unsubscribed Shares at $0.20 per Share; granted preempti
  - Effective: 2024-02-28
  source text: the Company also entered into a standby purchase agreement (the “Standby Purchase Agreement”) with BARC Investments, LLC (“BARC”), an affiliate of the Company owned and controlled by Company directors Alessandra F. Bianco and Richard A. Bianco, Jr. and their sibling Christina Bianco.
  evidence_url: https://www.sec.gov/Archives/edgar/data/20639/000114036124010156/0001140361-24-010156-index.htm
- Material Agreements
  AmBase Corp entered into Subscription Agreement with eligible existing stockholders valued at Up to 44,200,460 shares of common stock at $0.20 per share, gross proceeds approximately $8.8 millio (effective 2024-02-28).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: eligible existing stockholders
  - Value: Up to 44,200,460 shares of common stock at $0.20 per share, gross proceeds approximately $8.8 millio
  - Effective: 2024-02-28
  source text: The Shares will be offered and sold pursuant to a Subscription Agreement (the “Subscription Agreement”) to be entered into by and between the Company and each
  evidence_url: https://www.sec.gov/Archives/edgar/data/20639/000114036124010156/0001140361-24-010156-index.htm

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