AmBase obtains $100K promissory note from CEO Bianco at 6.5% for working capital

AmBase Corp

CEO Richard A. Bianco lends $100,000 to AmBase at 6.5% annual interest; principal and interest due on earlier of receipt of settlement funds (excluding litigation funding) or March 31, 2028.
Bianco may convert amounts due into a litigation funding agreement on a pari-passu basis with any third-party litigation funder.
Company faces going concern qualification; continues seeking up to $5 million in third-party litigation funding.
Loan proceeds are for working capital; company has limited cash and relies on 111 West 57th litigation recovery.

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