Modular Medical enters 48-month lease for 24,000 sq ft in San Diego

Modular Medical, Inc.

Monthly base rent $36,000 for first 12 months, increasing 4% annually thereafter.
Plus common area charges of approximately $10,700/month, adjustable based on actual costs.
Lease term 48 months beginning on or about February 1, 2023, at 10740 Thornmint Road.
Lessor is Michael Summers; property includes 24,000 square feet of space.

item 1.01 item 9.01

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

Modular Medical, Inc. entered into Lease Agreement with Michael Summers valued at $36,000 (effective 2023-01-05).

Action: entry
Agreement: lease
Counterparty: Michael Summers
Value: $36,000
Effective: 2023-01-05

Exact text from the filing

On January 5, 2023, Modular Medical, Inc. (the “Company”) entered into a Lease Agreement (the “Lease Agreement”) with Michael Summers (the “Lessor”) pursuant to which the Company will lease approximately 24,000 square feet of a building located at 10740 Thornmint Road, San Diego, California, commencing on or about February 1, 2023.

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Source: SEC EDGAR

accession 0001019056-23-000027

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