AmBase CEO Bianco adds $1.5M litigation funding for 111 West 57th; going-concern doubt persists

AmBase Corp

Richard A. Bianco, AmBase's Chairman, President and CEO, paid the company an additional $1,500,000 on Oct 13, 2026 under the RAB 2026 Litigation Funding Agreement.
Proceeds are for working capital and continuing litigation expenses tied to the 111 West 57th Property; the March 2, 2026 LFA allowed up to an initial $6,000,000.
New money carries the same terms and conditions as the March 2, 2026 LFA; litigation funders generally recover initial funding plus a 1.0x-3.5x multiple, fees and interest.
AmBase repeats a going-concern qualification and says it must raise more capital, exploring equity/debt sales, borrowings or further affiliate litigation funding.
Company warns failure to recover all or most of its 111 West 57th investment would likely have a material adverse effect, with no assurance its claims prevail.

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