Camac Partners Amends AmBase Stake to 4.9%

TL;DR

Camac Partners now owns 4.9% of AmBase Corp. after filing an amendment.

AI Summary

On March 26, 2024, Camac Partners, LLC, along with its affiliates Camac Capital, LLC and Eric Shahinian, filed an amendment (No. 7) to their Schedule 13D regarding AmBase Corp. The filing indicates a change in beneficial ownership, with Camac Partners, LLC now holding 1,700,000 shares of AmBase Corp. common stock, representing approximately 4.9% of the outstanding shares.

Why It Matters

This amendment signals a potential shift in control or influence for AmBase Corp., as a significant shareholder has updated their position. Investors will monitor future actions by Camac Partners.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership filings can indicate activist investor intentions or strategic shifts, introducing uncertainty for the company and its stock.

Key Numbers

• 1,700,000 — Shares Held (Beneficial ownership by Camac Partners, LLC)
• 4.9% — Ownership Stake (Percentage of AmBase Corp. common stock held)

Key Players & Entities

• Camac Partners, LLC (company) — Filing entity
• AmBase Corp. (company) — Subject company
• Eric Shahinian (person) — Affiliated person
• Camac Capital, LLC (company) — Affiliated entity
• 1,700,000 (dollar_amount) — Number of shares held
• 4.9% (dollar_amount) — Percentage of shares held

FAQ

Key Financial Figures

• $294,594 — ly owned by Camac Fund is approximately $294,594 including brokerage commissions. Item

Filing Documents

• formsc13da.htm (SC 13D/A) — 160KB
• 0001493152-24-011373.txt ( ) — 162KB

Security and Issuer

Item 1. Security and Issuer This Amendment No. 7 (this “Amendment”) amends and supplements the Schedule 13D filed with the Securities and Exchange Commission on January 7, 2020 (the “Schedule 13D”) and as amended on February 3, 2021, May 31, 2023, August 29, 2023, February 20, 2024, February 23, 2024, and March 13, 2024, by the Reporting Person with respect to the Common Stock of Ambase Corp. (the “Issuer” or the “Company”). Information reported in the Schedule 13D remains in effect except to the extent that it is amended, restated, or superseded by information contained in this Amendment. Capitalized terms used but not defined in this Amendment have the respective meanings set forth in the Schedule 13D. All references in the Schedule 13D and this Amendment to the “Statement” will be deemed to refer to the Schedule 13D as amended and supplemented by this Amendment.

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration Item 3 is hereby amended by deleting Item 3 of Schedule 13D in its entirety and replacing it with the following: The Shares purchased by Camac Fund were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business). The aggregate purchase price of the 1,841,215 Shares beneficially owned by Camac Fund is approximately $294,594 including brokerage commissions.

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer Item 5 is hereby amended by deleting Item 5 of Schedule 13D in its entirety and replacing it with the following: (a) The aggregate percentage of shares of Common Stock reported owned by each person named herein is based upon 40,737,751 shares of Common Stock outstanding, which is the total number of shares of Common Stock reported outstanding as of the Issuer’s Quarterly Report on Form 10-Q, filed with the Securities and Exchange Commission on March 18, 2024. As of the close of business on the date hereof, Camac Fund beneficially owned 1,841,215 shares of Common Stock. Percentage: Approximately 4.5% (b) By virtue of their respective positions with Camac Fund, each of Camac Partners, Camac Capital, and Eric Shahinian may be deemed to have shared power to vote and dispose of the Shares reported owned by Camac Fund. (c) Schedule A annexed hereto lists all transactions in securities of the Issuer by the Reporting Persons during the past 60 days. (d) No person other than the Reporting Persons is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the shares of Common Stock. (e) Not applicable.

Material to be Filed as Exhibits

Item 7. Material to be Filed as Exhibits Exhibit 99.1 Joint Filing Agreement filed with the Schedule 13D on January 7, 2020, and incorporated by reference herein.

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. Dated: March 26, 2024 Camac Partners, LLC By: Camac Capital, LLC, its general partner By: /s/ Eric Shahinian Eric Shahinian Managing Member of the GP Camac Capital, LLC By: /s/ Eric Shahinian Eric Shahinian Managing Member By: /s/ Eric Shahinian Eric Shahinian Camac Fund, LP By: Camac Capital, LLC, its general partner By: /s/ Eric Shahinian Name: Eric Shahinian Title: Managing Member of the GP SCHEDULE A Open Market Transactions in the Shares by the Reporting Persons During the Past 60 Days Date of Sale Shares of Common Stock Sold Price Per Share ($) CAMAC FUND, LP 03/18/2024 131,600 $ 0.2161 03/19/2204 35,000 $ 0.2221 03/25/2024 10,800 $ 0.2120 03/26/2024 238,440 $ 0.2124

View Full Filing

View this SC 13D/A filing on SEC EDGAR