Trinity Place Holdings Inc. announced that it has entered into a stock purchase agreement with the TPHS Lender LLC to issue 25,112,245 shares of common stock at an issue price of $0.30 per share for the gross proceeds of $7,533,673.5 on January 5, 2024. Following the Closing, the permitted uses for the funds in the Purchase Price Reserve Account include payment of the transactions expenses described below, payment of any operating costs less than $25,000 individually, or $75,000 in the aggregate, or any other payments with the Investor?s prior written consent; provided that until the occurrence of a dissolution event of the company, $200,000 will be available to the Company to fulfill its indemnification obligations to current and/or former directors and officers. The Investor Shares to be issued to the Company Investor will be issued in reliance upon an exemption from the registration requirements of the Securities Act of 1933, as amended pursuant to Section 4(a)(2) thereof as a transaction not involving any public offering.