GSI Technology sells Sunnyvale HQ for $11.85M, enters 10-year leaseback

GSI TECHNOLOGY INC

Sale price $11.85M for 44,277 sq ft HQ; initial $250K deposit with 45-day diligence period.
Simultaneous 10-year leaseback at ~$90,768/month base rent, 3% annual escalation, two 5-year renewal options.
Buyer D.R. Stephens & Company; company retains occupancy as tenant under long-term lease.
Deposit refundable only during diligence; non-refundable after Go Forward Notice except for seller default.
Agreement includes customary representations, warranties, and closing conditions; no GAAP impact disclosed.

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

GSI TECHNOLOGY INC entered into the Agreement with D.R. Stephens & Company, LLC valued at $11.85 million (effective 2024-04-02).

Action: entry
Agreement: asset purchase
Counterparty: D.R. Stephens & Company, LLC
Value: $11.85 million
Effective: 2024-04-02

Exact text from the filing

On April 2, 2024, GSI Technology, Inc. (the “Company”) entered into a purchase and sale agreement (the “Agreement”) with D.R. Stephens & Company, LLC, as purchaser, to sell the Company’s 1213 Elko Drive property in Sunnyvale, California (the “Sunnyvale Property”) for $11.85 million in cash.

View on SEC.gov

380 material agreements filed in the last 30 days. Browse all material agreements →

GSI TECHNOLOGY INC filing history →

Source: SEC EDGAR

accession 0001104659-24-042802

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.