AmBase enters $1M promissory note with CEO Bianco at 6.5% interest

AmBase Corp

$1,000,000 senior promissory note from Chairman/CEO Richard A. Bianco to the Company at 6.5% per annum.
Note matures on earlier of receipt of sufficient funds (excluding certain litigation funding) or September 30, 2027.
Amounts due can be converted into a litigation funding agreement pari passu with future third-party funding.
Company has going concern qualification; seeking up to $5M in additional litigation funding.
Proceeds used for working capital; note is senior to other unsecured debt.

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