Item 1.01. Entry into a Material Definitive Agreement
On July 29, 2022, Minerva Surgical, Inc. (the "Company") entered into a new
operating lease arrangement for its current approximate 33,000 square foot
facility in Santa Clara, California 95054 ("Mission Park Lease"). The Company's
existing sublease for this facility expires in May 2023. The new lease commences
on June 1, 2023 and will expire on May 31, 2028. The Mission Park Lease contains
base monthly rent payments of approximately $88,341 that 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 terms of the
Mission Park lease.
This summary of the Mission Park Lease does not purport to be complete and is
subject to, 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 exhibit to the Company's
Quarterly Report on Form 10-Q for the quarter ended September 30, 2022.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
The information set forth under Item 1.01 of this Current Report on Form 8-K is
incorporated herein by reference.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses