KalVista Pharmaceuticals Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation
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Item 1.01 Entry into a Material Definitive Agreement.
On July 22, 2024, KalVista Pharmaceuticals, Inc. (the “Company”) entered into a lease agreement, effective as of July 16, 2024 (the “Lease”), with OC 990 Corporate Center Associates, LLC (the “Lessor”) for approximately 32,110 square feet located at 200 Crossing Boulevard, Framingham, MA (the “Premises”). The Company expects to use the Premises as its corporate headquarters, as well as for laboratory space. The commencement date for the Lease is on or about April 30, 2025, and the Lease will expire in its entirety on December 31, 2034. The aggregate estimated base rent payments due over the term of the Lease is approximately $11.2 million.
The Company will post a security deposit of approximately $652,800 in the form of a letter of credit, which is subject to use by the Lessor under certain circumstances, per the terms of the Lease. The Lease contains customary provisions requiring the Company to pay its pro rata share of operating expenses and certain taxes, assessments and fees related to the Premises and provisions allowing the Lessor to terminate the Lease if the Company fails to remedy a breach of certain of its obligations within specified time periods.
The foregoing description of the Lease is qualified in its entirety by reference to the 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 July 31, 2024.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of Registrant.
The information set forth above in Item 1.01 of this Current Report on Form 8-K regarding the Lease is incorporated into this Item 2.03 by reference.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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KALVISTA PHARMACEUTICALS, INC. |
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Date: |
July 23, 2024 |
By: |
/s/ Benjamin L. Palleiko |
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Benjamin L. Palleiko |