Precision BioSciences extends Durham lease through July 2029; annual base rent ~$1.9M

PRECISION BIOSCIENCES INC

Lease term extended five years from Aug 1, 2024 to July 31, 2029.
Monthly base rent ranges from $23.92 to $37.68 per sq ft; annual base rent ~$1.9M.
Base rent subject to annual upward adjustment of 2.75% or 3.0% per suite.
Amendment corrects prior 8-K rental rate disclosure and adds Item 2.03 obligation.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

PRECISION BIOSCIENCES INC amended Tenth Amendment to Lease Agreement with Venable Historic, LLC valued at annual base rent during the first period of the extension term of approximately $1.9 million (effective 2023-10-16).

Action: amendment
Agreement: lease
Counterparty: Venable Historic, LLC
Value: annual base rent during the first period of the extension term of approximately $1.9 million
Effective: 2023-10-16

Exact text from the filing

On October 16, 2023, Precision BioSciences, Inc. (the “Company”) and Venable Historic, LLC, successor-in-interest to Venable Tenant, LLC (the “Landlord”), entered into a Tenth Amendment to Lease Agreement (the “Lease Amendment”)

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PRECISION BIOSCIENCES INC filing history →

Source: SEC EDGAR

accession 0000950170-23-054420

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