Item 1.01. Concluding a significant definitive agreement
On July 29, 2022, Minerva Surgical, Inc. (the “Company”) has entered into a new operating lease for its current facility of approximately 33,000 square feet at Santa Clara, California 95054 (“Mission Park lease“). The Company’s existing sublease for this facility expires in May 2023. The new lease takes effect on June 1, 2023 and will expire on May 31, 2028. The mission Park lease contains basic monthly rents of approximately $88,341 which increase annually by 3% over the term of the lease. In addition to base rent, the Company will continue to reimburse the landlord for certain operating expenses under the
Mission Park to rent out.
This summary of the mission Park lease does not purport to be complete and is submitted and qualified in its entirety by reference to the full text of the
Mission Park lease, a copy of which will be filed as an attachment to the company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2022.
Section 2.03. Creation of a direct financial obligation or an obligation under an off-balance sheet arrangement of a registrant.
The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
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