Form 8-K - Current report
October 12 2023 - 6:03AM
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported):
October 12, 2023
American
Strategic Investment Co.
(Exact Name of Registrant as Specified in Charter)
Maryland |
|
001-39448 |
|
46-4380248 |
(State or other jurisdiction of incorporation) |
|
(Commission File Number) |
|
(I.R.S. Employer Identification No.) |
|
|
|
|
|
650
Fifth Avenue, 30th Floor
New
York, New York 10019 |
(Address, including zip code, of Principal Executive Offices) |
|
Registrant’s telephone number, including area code: (212)
415-6500 |
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b)
of the Act:
Title
of each class: |
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Trading
Symbol(s) |
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Name
of each exchange on which registered |
Class
A common stock, $0.01 par value per share |
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NYC |
|
New
York Stock Exchange |
Class
A Preferred Stock Purchase Rights |
|
true |
|
New
York Stock Exchange |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Common
Stock [Member]
Item 7.01. Regulation FD Disclosure.
On October 12, 2023, American Strategic Investment
Co. (the “Company”) issued a press release, a copy of which is attached hereto as Exhibit 99.1. The information set forth
in Item 7.01 of this Current Report on Form 8-K and in the attached Exhibit 99.1 is deemed to be “furnished” and shall not
be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), or otherwise subject to the liabilities of that Section. The information set forth in Item 7.01 of this Current Report on
Form 8-K, including Exhibit 99.1, shall not be deemed incorporated by reference into any filing under the Exchange Act or the Securities
Act of 1933, as amended, regardless of any general incorporation language in such filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
|
American Strategic Investment Co. |
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Date: October 12, 2023 |
By: |
/s/ Michael Anderson |
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Michael Anderson |
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Chief Executive Officer |
Exhibit 99.1
FOR IMMEDIATE RELEASE
AMERICAN STRATEGIC INVESTMENT CO. COMPLETES
DISPOSITION OF THE HIT FACTORY
NEW YORK –October 12, 2023 - American
Strategic Investment Co. (NYSE: NYC) (“ASIC” or the “Company”) announced today that it completed the sale of the
property it owns at 421 W. 54th Street (the “Hit Factory”) for $4.5 million.
“We are pleased to complete the sale of
the Hit Factory, a vacant property that will provide approximately $4.2 million of cash proceeds for the Company and positively impacts
the Company’s property level operating expenses through the elimination of meaningful expenses associated with this property,”
said Michael Anderson, CEO of ASIC. “This sale demonstrates the resilience of the New York City market and the value that a new
set of strategic buyers see in well-located properties with important histories and is an important event for the Company in evaluating
the strategic composition of our portfolio.”
About the Company
American Strategic Investment Co.
owns a portfolio of commercial real estate. Additional information about ASIC can be found on its website at AmericanStrategicInvestment.com.
Forward-Looking Statements
The statements in this press release that
are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that
could cause actual results or events to be materially different. The words “may,” “will,”
“seeks,” “anticipates,” “believes,” “expects,” “estimates,”
“projects,” “plans,” “intends,” “should” and similar expressions are intended to
identify forward-looking statements, although not all forward-looking statements contain these identifying words. These
forward-looking statements are subject to a number of risks, uncertainties and other factors, many of which are outside of the
Company’s control, which could cause actual results to differ materially from the results contemplated by the forward-looking
statements. These risks and uncertainties include (a) the anticipated benefits of the Company’s election to terminate its
status as a real estate investment trust, (b) whether the Company will be able to successfully acquire new assets or businesses, (c)
the potential adverse effects of (i) the global COVID-19 pandemic, including actions taken to contain or treat COVID-19, (ii) the
geopolitical instability due to the ongoing military conflict between Russia and Ukraine, including related sanctions and other
penalties imposed by the U.S. and European Union, and the related impact on the Company, the Company’s tenants, and the global
economy and financial markets, and (iii) inflationary conditions and higher interest rate environment, and (d) that any potential
future acquisition is subject to market conditions and capital availability and may not be completed on favorable terms, or at all,
as well as those risks and uncertainties set forth in the Risk Factors section of the Company’s Annual Report on Form 10-K for
the year ended December 31, 2022 filed on March 16, 2023 and all other filings with the Securities and Exchange Commission after
that date including but not limited to the subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, as such risks,
uncertainties and other important factors may be updated from time to time in the Company’s subsequent reports. Further,
forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any
forward-looking statement to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating
results, unless required to do so by law.
Contacts:
Investor Relations
info@ar-global.com
(866) 902-0063
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