AmBase receives $500K CEO loan at 6.5% due June 2028

AmBase Corp

Chairman/CEO Richard A. Bianco lends $500,000 at 6.5% interest for working capital; maturity June 30, 2028.
Loan repayment accelerates upon receipt of funds from any source, excluding litigation funding for 111 West 57th case.
Bianco may convert amounts due into a litigation funding agreement pari passu with any third-party funder.
Company still pursuing up to $5M in third-party litigation funding for 111 West 57th property litigation.
Note is senior to other debt; company has going concern qualification from prior filings.

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