GRITSTONE BIO, INC. : entering into a material definitive agreement, creating a direct financial obligation or an obligation under an off-balance sheet arrangement of a holder, other events, financial statements and exposures (Form 8-K)
Item 1.01 Conclusion of a Material Definitive Agreement.
2021 (the âEffective Dateâ), with
The term of the new lease begins on the effective date and ends on the tenth (10th) anniversary of the rental start date, described below. The Company has the option of extending the term of the New Lease for two (2) additional consecutive periods of five (5) years. The new lease also provides for early access to the premises for the purpose of installing furniture, fixtures, equipment (including laboratory equipment) and similar items.
The obligation of the Company for the payment of the base rent (the âBase Rentâ) for the Premises begins on the date on which the Lessor delivers to the Company the 650 newly constructed, substantially completed Premises which are currently scheduled to take place. the or towards
As part of its entry into the New Lease and as a security deposit, the Company provided the Lessor with a letter of credit in the amount of approximately
The Lessor has the right to terminate the New Lease in the event of usual default. The Company may also terminate the New Lease, among other reasons, if the Premises are not ready to be occupied after
The foregoing summary of material terms of the New Lease is qualified in its entirety by the terms of the New Lease, which is filed as Exhibit 10.1 of this current report on Form 8-K and is incorporated by reference herein.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant.
(a) Creation of a direct financial obligation
Information set forth or incorporated by reference in Sections 1.01 and 8.01 of this current report on Form 8-K is incorporated in this Section 2.03 by reference.
Item 8.01 Other Events.
First amendment to the 2016 lease
In accordance with the First Amendment, the Company and the owner of 40 Erie have agreed to extend the term of the 2016 lease for an additional period of three (3) years, beginning on
The foregoing summary of material terms of the First Amendment is qualified in its entirety by the terms of the First Amendment, which is filed as Exhibit 10.2 to this current report on Form 8-K and is incorporated by reference herein.
Third amendment to the license agreement
Pursuant to the Third Amendment, the Company and the licensor have agreed to extend the term of the license agreement for an additional period of five (5) months, effective from
The foregoing summary of the important terms of the Third Amendment is qualified in its entirety by the terms of the Third Amendment, which is filed as Exhibit 10.3 to this current report on Form 8-K and is incorporated by reference herein.
Item 9.01 Financial statements and supporting documents.
Part # Description
10.1 Office/Laboratory Lease, by and between
Gritstone bio, Inc.and RREF II Kenmore Lessor III LLCand RREF II Kenmore Lessor IV LLC, effective as of September 23, 2021. 10.2 First Amendment to Lease, by and between Gritstone bio, Inc.and BMR-Sidney Research Campus KKC, effective as of September 21, 2021. 10.3 Third Amendment to Office/Laboratory Lease, by and between Gritstone bio, Inc.and MIL 21E, LLC, effective as of September 21, 2021. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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