AmBase secures $500K loan from CEO Richard Bianco at 6.5% for working capital

AmBase Corp

$500K senior promissory note from Chairman/CEO Richard A. Bianco at 6.5% annual interest.
Maturity upon receipt of sufficient funds (excluding litigation funding) or December 31, 2027.
Bianco can convert amounts due into a litigation funding agreement pari passu with any third-party funder.
Company continues to explore up to $5M in third-party litigation funding; has going-concern qualification.

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