REVOLUTION MEDICINES, INC. : conclusion of a material definitive agreement, creation of a direct financial obligation or an obligation under an off-balance sheet arrangement of a holder (form 8-K)

Item 1.01 Conclusion of a Material Definitive Agreement.

Effective from November 1, 2021, Drug Revolution, Inc. (the “Company”) has entered into a third amendment to the lease (the “third amendment”) with HCP LS Redwood City, LLC (the “Lessor”), which modifies that certain dated leases
January 15, 2015 with the Landlord, as twice amended (the “Lease”), to lease an additional 41,445 square feet (the “800 Building”) of office, laboratory and research and development space located at 800 Saginaw Drive, Redwood City, California (as well as the premises previously rented under the Lease, the “Premises”), and to extend the term of the lease of the part of the Premises located at 700 Saginaw Drive, Redwood City, California (the “Building 700”) and 300 Saginaw Drive, Redwood City, California (the “Building 300”). The Company previously entered into a second amendment to the lease on April 17, 2020 (the “Second Amendment”), to lease an additional 19,484 square feet of office, laboratory, and research and development space for Building 300.

Under the Third Amendment, the term of the lease for the part of the premises located in building 800 should begin on November 7, 2021 and expire on November 30, 2033, and the lease expiry dates for Building 700 and Building 300 have been extended by December 31, 2030 To November 30, 2033 (the “Lease Extension Period”). The Company has the option of extending the term of the lease for all the Premises for an additional ten years beyond the end of the Lease Extension Period (the “Option Term”).

The annual base rent for the rental of the part of the premises located in building 800 is approximately $ 2.685 million up to November 30, 2022, after which the annual base rent will increase by approximately 3.5% in each subsequent year of the lease term. The annual base rent for Building 300 and Building 700 remains unchanged until the expiration date of the previous lease under the Second Amendment. At the start of the lease extension period, the annual base rent for building 700 will be approximately
$ 3.565 million and will then increase by 3.5% per year on each May 1
during the lease extension period, and the annual base rent for building 300 will be approximately $ 1.715 million and will then increase by 3.5% per year on each January 1st during the lease extension period. The Company will also continue to be responsible for the payment of its pro rata share of operating expenses and taxes for the Premises.

The third amendment also provides for a two-month reduction in the basic monthly rent for building 800, from December 1, 2021 through January 30, 2022. Under the Third Amendment, the lease continues to provide for an annual base rent during the term of the option, if any, to be calculated based on a fair market rental rate as determined in the lease.

The foregoing description of material terms of the Third Amendment is not intended to be complete and is subject to, and is qualified in its entirety by, a reference to the Third Amendment, which will be filed as an attachment to the Company’s Quarterly Report. on form 10-Q for the quarterly period ending
September 30, 2021.

Item 2.03 Creation of a Direct Financial Obligation or Obligation Under an Off-Balance Sheet Arrangement of a Registrant.

The information included in Item 1.01 of this current report on Form 8-K is incorporated in this Item 2.03 by reference.

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