February 28, 2024 · Form 4 insider transaction
Barc Investments LLC bought 44,200,460 shares of AmBase Corporation at $0.20 per share, a transaction worth $8.84M. The trade was recorded as open-market purchase and disclosed on an SEC Form 4, filed 8 days after the transaction.
On February 28, 2024, the reporting person entered into a Standby Purchase Agreement with AmBase Corporation (the "Company"), pursuant to which the reporting agreement irrevocably committed to purchase up to 44,200,460 shares of the Company's common stock in a private placement (the "Offering"), subject to reduction based upon the exercise of purchase rights by other stockholders of the Company in the Offering. The Offering is expected to close on or about April 7, 2024, at which time the exact number of shares to be purchased by the reporting person will be determined.