BELLEVUE CAPITAL PARTNERS, LLC LAUNCHES TENDER OFFER FOR SHARES OF AMERICAN STRATEGIC INVESTMENT CORP.

Rhea-AI Summary

Bellevue Capital Partners, has launched a tender offer to purchase up to 125,000 shares of American Strategic Investment Corp (NYSE: NYC) common stock at $9.25 per share, representing a 67% premium to the recent closing price. The offer reflects Bellevue's confidence in ASIC's portfolio and investment strategy, emphasizing the long-term value of ASIC's common stock.

News Market Reaction – NYC

+38.10%

+38.10% Session move

In the trading session that priced this news, NYC gained 38.10%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

$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 Tenders of common stock may be withdrawn at any time at or prior to 5:00 PM, New York City time, on July 5, 2024, but may not be withdrawn thereafter except in certain limited circumstances where additional withdrawal rights are required by law.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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/bellevue-capital-partners-llc-launches-tender-offer-for-shares-of-american-strategic-investment-corp-302137375.html

SOURCE Bellevue Capital Partners, LLC

FAQ

What is the tender offer launched by Bellevue Capital Partners, ?

Bellevue Capital Partners, has launched a tender offer to purchase up to 125,000 shares of American Strategic Investment Corp (NYSE: NYC) common stock at $9.25 per share.

What is the premium offered in the tender offer?

The tender offer represents a 67% premium to the recent closing price of American Strategic Investment Corp (NYSE: NYC) common stock.

When will the Tender Offer close?

The Tender Offer will close on July 5, 2024.

What are the terms and conditions of the Tender Offer?

The Tender Offer is subject to the terms and conditions set forth in the Offer to Purchase and the related Letter of Transmittal.

Can common stock be withdrawn after tendering?

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, except in certain circumstances where additional withdrawal rights are required by law.