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.

Insights

Financial Analyst

The tender offer from Bellevue Capital Partners, LLC to acquire shares of American Strategic Investment Corp. at a 67% premium is a significant gesture, reflecting Bellevue's confidence in the long-term value of ASIC's assets and investment strategy. A premium of this magnitude could signal undervaluation in the market’s eye or potentially strategic maneuvers by Bellevue to consolidate control. The price of $9.25 per share needs to be examined in the context of ASIC's recent performance, historical share prices and industry benchmarks. Investors should scrutinize the company's fundamentals, like its earnings, revenue growth and asset quality, to assess whether the offer aligns with intrinsic valuations. Additionally, the lock-up period until the Expiration Date may impact the liquidity and volatility of ASIC shares, which investors should watch closely. Retail investors considering tendering their shares might weigh this immediate cash exit against potential long-term gains if Bellevue's bullish stance on ASIC’s strategy and performance materializes.

Mergers & Acquisitions Expert

The tender offer might reflect strategic positioning by Bellevue, aiming for a larger stake in ASIC to influence its expanded investment strategy or to potentially steer future corporate decisions. The market's response to this tender offer could influence ASIC's share price in the short term, leading to a recalibration of the company's market capitalization. It's important for shareholders to understand the possible implications of Bellevue's ownership increase, including governance changes and potential shifts in the company's direction. From an M&A perspective, if the tender offer leads to Bellevue acquiring a significant portion of ASIC, it might deter or attract other institutional investors or acquirers, depending on their interpretation of Bellevue's intentions and the perceived future value of ASIC.

$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

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.