On April 1, 2024, AmBase Corporation closed the transaction. The transaction included participation from institutional investor, purchased 1,250,000 Shares and 42,950,460 Shares purchased by new investor, BARC Investments, LLC. The offer and sale of the Shares in the Equity Offering was completed in reliance on the exemption from registration under Rule 506(c) of Regulation D promulgated under Section 4(a)(2) of the Securities Act of 1933, as amended.