AmBase Corporation has disclosed that its Chairman, President, and Chief Executive Officer, Richard A. Bianco, has contributed an additional $1.5 million to the company. This payment was made on October 13, 2026, pursuant to a Litigation Funding Agreement (the “RAB 2026 LFA”) established on March 2, 2026.
The funds are designated for working capital needs and continuing litigation expenses specifically related to the 111 West 57th Property. The contribution was made under the same terms and conditions as the original agreement, which allows for an aggregate initial amount of up to $6 million.
In its filing, AmBase noted that its financial statements include a qualification regarding its ability to continue as a going concern. To address this, the company stated it is exploring strategic alternatives to meet its capital needs. These alternatives include raising capital through the sale of equity or debt securities, long-term borrowings, or additional litigation funding from affiliates, financial institutions, or other stockholders.
The company emphasized that it intends to negotiate any such transactions on market terms. However, it cautioned that there is no assurance it will be able to raise capital or obtain financing on acceptable terms. The company also noted that if it relies on litigation funding, the funders would typically be entitled to repayment of the principal amount plus a multiple of the funding before the company receives any recovery.
