Natural Alternatives International Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Financial Statements and Exhibits

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ITEM 1.01         ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

 

On July 21, 2023, Natural Alternatives International, Inc. (“NAI”) entered into a Fourth Amendment to Lease amending and extending the term of the lease of its Vista California manufacturing facilities. The Fourth Amendment extends the term of the Lease by an additional ten years and five months commencing April 1, 2024. The amended Lease covering two buildings and approximately 162,000 square feet will result in an increase in base rent to $1.50 per square foot, after five free months of base rent beginning at the commencement of the extended term. NAI intends to construct substantial improvements to the facilities including but not limited to installation of an approximately $2.3 million solar electrical generating system on both buildings, and other substantial improvements. Pursuant to the Fourth Amendment the Landlord will reimburse NAI for up to $1.1 million of these tenant improvements to the buildings.

 

The foregoing description does not purport to be complete and is qualified in its entirety by the copy of the Fourth Amendment to Lease included as Exhibit 10.17 hereto and Exhibits 10.1 and 10.7 to NAI’s most recent Annual Report, those being the original 2003 Lease and the Third Amendment dated July 31, 2013. Each of these Exhibits are incorporated herein by reference.

 

 

(d) Exhibits.

 

10.17   Fourth Amendment to Lease of NAI manufacturing facilities in Vista, California between NAI the tenant, and Park Center Industrial ILP, LLC, a Delaware limited liability company, the landlord.

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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 hereunto duly authorized.