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 March 28, 2025, Amplitude, Inc. (the “Company”) entered into a lease agreement (the “Lease”) with KR 201 Third Street Owner, LLC (the “Landlord”), effective as of March 21, 2025, pursuant to which the Company will lease approximately 57,530 square feet of space located at 201 Third Street, San Francisco, California 94103 (the “Premises”). The Company already occupies the Premises pursuant to a sublease between the Company and Postmates, LLC that expires on September 30, 2025 (the “Sublease”).
The term of the Lease will commence on the earlier of (i) October 1, 2025 and (ii) the date following the termination of the Sublease, and will expire on February 28, 2029 (the “Initial Term”). The Company has the option to extend the Lease for one additional three-year term, subject to the terms therein. The monthly base rent due under the Lease shall initially be $225,325.83 per month for the first year and is scheduled to increase by approximately 3% per annum for each subsequent year of the Initial Term. The Company shall not be obligated to pay any base rent until its approximately $2.6 million base rent abatement amount has been fully utilized. The Company also has the right of first offer and the option to expand the Premises to include an additional approximately 30,938 square feet of space, subject to the terms of the Lease. The Landlord has the right to terminate the Lease upon customary events of default. The Company is also required to deliver a standby letter of credit to the Landlord in the amount of $850,000 (the “Letter of Credit”) and maintain the Letter of Credit through the date that is 120 days following the expiration of the Lease.
The foregoing summary of the Lease does not purport to be complete and is qualified in its entirety by reference to the full text of the Lease, a copy of which the Company intends to file with the Securities and Exchange Commission as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ending March 31, 2025.
SIGNATURES
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.
| AMPLITUDE, INC. | ||||||
| Date: April 1, 2025 | By: | /s/ Andrew Casey | ||||
| Name: | Andrew Casey | |||||
| Title: | Chief Financial Officer | |||||