$10.25 Offer
Represents $1.00 Per Share Increase
in Offer Price to May 7, 2024 Tender
Offer
NEW
YORK, May 23, 2024 /PRNewswire/ -- Bellevue
Capital Partners, LLC ("Bellevue") announced today that it has
increased the purchase price of its previously announced tender
offer to purchase up to 125,000 shares of American Strategic
Investment Co. (NYSE: NYC) ("ASIC") common stock from
the previous purchase price of $9.25
to an increased purchase price of $10.25 per share (the "Tender Offer"). The Tender
Offer will close on July 5, 2024.
Bellevue is making this offer at a 77% 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 77% premium to the May 3,
2024 closing 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stock may be withdrawn at any time at or prior to 5:00 PM, New York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but may not be withdrawn thereafter except in certain limited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
