UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 1.01 | Entry into a Material Definitive Agreement |
On December 20, 2024, Ambarella Corporation (the “Subsidiary”), a wholly-owned subsidiary of Ambarella, Inc. (the “Company”), entered into a Lease Agreement (the “Lease”) with The Quad Santa Clara, LLC (“Landlord”), pursuant to which the Subsidiary will lease from Landlord approximately 57,871 rentable square feet of office space (the “Facility”) located at 3001 Tasman Drive, Santa Clara, California. The Facility will serve as the new executive offices of the Company. The Lease has an initial term of 104 months, commencing upon the completion of certain improvements to the Facility, which are anticipated to be completed by September 1, 2025, subject to the Subsidiary’s option to renew for five additional years. The Subsidiary’s monthly basic rent obligation for the Facility initially will be $144,677.50, increasing annually to $183,273.13 in 2033. The Subsidiary will provide an initial security deposit of $434,033, subject to reduction to $183,273 beginning in 2028 based upon the achievement of certain financial metrics. The Subsidiary is also obligated to pay its proportionate share of certain expenses associated with the maintenance, repair and operation of the Facility. The foregoing description is qualified in its entirety by reference to the Lease, which the Company intends to file as an exhibit to its Annual Report on Form 10-K for the fiscal year ending January 31, 2025.
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: December 27, 2024 | Ambarella, Inc. | |||
| /s/ Michael Morehead | ||||
| General Counsel | ||||