American Strategic Investment Co. commences rights offering for common stock

American Strategic Investment Co. commenced an offering of shares of its Class A common stock, par value 1c per share through a rights offering. The company distributed to all holders of record of its Common Stock on January 12 for each share of the Common Stock held as of the Record Date, one non-transferable subscription right to purchase 0.20130805 of a share of Common Stock, at a subscription price of $12.95 per whole share. Any fractional shares of the common stock that would remain after the exercise of the subscription rights will be rounded down to the nearest whole share, and any excess payments in respect thereof will be returned. Holders of at least five shares of common stock will have the opportunity to participate in the rights offering and subscribe for newly issued shares of common stock. To the extent that not all holders fully exercise their rights, those holders that do fully exercise will also have the option to purchase additional shares through an oversubscription option. The company intends to use the net proceeds from the Rights Offering for general corporate purposes. The rights offering will expire at 5:00 p.m., Eastern Time, on February 22, unless extended.