Organogenesis buys Canton facility for $6M from directors/stockholders; terminates lease

Organogenesis Holdings Inc.

Purchased land and building at 275 Dan Road, Canton, MA for $6M cash from seller owned by directors/stockholders.
Also agreed to pay deferred rent of ~$5.06M plus accrued interest ~$1.05M over installments with 4.5% annual simple interest.
Existing lease dated Jan 1, 2013 terminated with no penalties; transaction approved by Audit Committee.
Seller entity owned by Alan Ades, Dennis Erani, and Glenn Nussdorf; Ades and Nussdorf are on Organogenesis board.

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