$9.25 Offer
Represents 67% Premium to Recent Closing Price
NEW
YORK, May 7, 2024 /PRNewswire/ -- Bellevue
Capital Partners, LLC ("Bellevue") announced today that it has
launched a tender offer to purchase up to 125,000 shares of
American Strategic Investment Co. (NYSE: NYC) ("ASIC")
common stock at a price of $9.25 per
share (the "Tender Offer"). The Tender Offer will close on
July 5, 2024.
Bellevue is making this offer at a 67% premium to the
May 3, 2024 closing price because of
its continued confidence in ASIC's portfolio and
underlying assets. 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 67% 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
5:00 PM, New York City time, on July 5, 2024, unless extended or earlier
terminated by Bellevue (the "Expiration Date"). Tenders of common
stock may be withdrawn at any time at or prior to 5:00 PM, New York
City time, on July 5, 2024,
but may not be withdrawn thereafter except in certain limited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
