AmBase Corporation Litigation Funding Agreement Update

AmBase Corporation reported on July 31, 2026, that on July 30, 2026, they entered into a letter agreement with Richard A. Bianco, the Company’s Chairman, President and Chief Executive Officer. Mr. Bianco provided an additional $1,000,000 to the Company for working capital and litigation expenses related to the 111 West 57th Property. This funding is under the same terms as the March 2, 2026, Litigation Funding Agreement. The Company continues to explore strategic alternatives to raise capital, including equity or debt offerings, borrowings, and litigation funding, due to its going concern qualification and the need to fund anticipated litigation expenses. There is uncertainty regarding the success of actions to protect or recover value related to the 111 West 57th Property, and any inability to recover value could materially affect the Company's financial condition and prospects.