$10.25 Offer
Represents 64.8% Premium to Recent Closing Price
NEW
YORK, Sept. 27, 2023 /PRNewswire/ -- Bellevue
Capital Partners, LLC ("Bellevue") announced today that it
launched a tender offer to purchase up to 350,000 shares of
American Strategic Investment Co. (NYSE: NYC) ("ASIC")
common stock at a price of $10.25 per
share (the "Tender Offer").
Bellevue is making this offer at a 64.8% premium to the most
recent closing price because of its continued confidence in
ASIC's portfolio and underlying assets, which continue
to perform strongly in a challenging market. Bellevue further
believes in the previously announced expanded investment strategy
that ASIC is pursuing and in the long-term value of
ASIC's common stock. The 64.8% premium to the current
stock price reflects Bellevue's belief in the long-term performance
of ASIC and its portfolio of assets.
The Tender Offer is being made upon, and is subject to, the
terms and conditions set forth in the Offer to Purchase and the
related Letter of Transmittal. The Tender Offer will expire at
11:59 PM, New York City time, on October 26, 2023, unless extended or earlier
terminated by Bellevue (the "Expiration Date"). Tenders of common
stock may be withdrawn at any time at or prior to 11:59 p.m., New York
City time, on October 26,
2023, but may not be withdrawn thereafter except in certain
limited circumstances where additional withdrawal rights are
required by law.
About Bellevue Capital Partners, LLC
Bellevue is a
leading, diversified investment, asset management and operating
platform and the sole member of AR Global Investments, LLC, the
parent company to the advisor and property manager of
ASIC.
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SOURCE Bellevue Capital Partners, LLC