secwatch.observer — SEC 8-K summary
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Issuer:     GSI TECHNOLOGY INC (GSIT)
CIK:        0001126741
Form:       8-K
Filed at:   2024-04-03T23:59:59+00:00
Accession:  0001104659-24-042802
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1126741/000110465924042802/0001104659-24-042802-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1126741/000110465924042802/tm2410470d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-042802

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