SAB Biotherapeutics, Inc. (SABS): debt financing — SAB Biotherapeutics enters 5-year lease for Sioux Falls lab/office space from Sanford Health

SAB Biotherapeutics, Inc.

Leases 21,014 sq ft at 2301 E 60th St N, Sioux Falls, SD; term effective Feb 1, 2025 through Dec 31, 2029.
Annual rent $601,630.82 ($28.63/sq ft), paid monthly at $50,135.90; January 2025 rent paid under prior lease.
Annual rent escalates by greater of 2% or CPI starting Jan 1, 2026; either party may terminate with 90 days' notice.
Tenant responsible for maintenance and repairs; Landlord pays utilities, taxes, and base-building maintenance.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SAB Biotherapeutics, Inc. incurred lease obligation with Sanford Health maturing five years ending on December 31, 2029.

Instrument: lease obligation
Counterparty: Sanford Health
Maturity: five years ending on December 31, 2029
Event: incurrence

Exact text from the filing

(the “Company”) entered into a lease agreement, dated and effective February 1, 2025 (the “Sanford Lease Agreement”), with Sanford Health, a South Dakota non-profit corporation ( the “Landlord”). The Sanford Lease Agreement provides for a lease area of 21,014 from the Landlord to the Company, located at 2301 East 60th Street North, Sioux Falls, South Dakota 57104.

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Source: SEC EDGAR

accession 0000950170-25-014627

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