AmBase Corp. enters into $100K promissory note with CEO Richard A. Bianco for working capital

AmBase Corp

Note: $100,000 principal, 6.5% interest, due Sept 30, 2028 or earlier upon receipt of funds from certain sources.
Option for conversion into a litigation funding agreement pari passu with third-party funders.
Company has going concern qualification; seeking additional funding for 111 West 57th Property litigation.
Company considering further funding alternatives up to $5M from third-party litigation funders.

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