ImmuCell signs lease amendment for $649k additional rent to fund tenant improvements

IMMUCELL CORP /DE/

Third Amendment of Lease for 175 Industrial Way, Portland, ME; landlord funds improvements (heat, warehouse, shipping).
Additional rent: $20,000/month from Nov 2023 through June 2024 (8 payments).
One-time rent payment of $488,743 due July 1, 2024.
Total additional rent obligation of $648,743; in addition to existing lease payments.

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

IMMUCELL CORP /DE/ amended Third Amendment of Lease with TVP, LLC (the Landlord) valued at additional monthly rent payments of $20,000 through June 2024 and a one-time rent payment of $488,74 (effective 2023-11-14).

Action: amendment
Agreement: lease
Counterparty: TVP, LLC (the Landlord)
Value: additional monthly rent payments of $20,000 through June 2024 and a one-time rent payment of $488,74
Effective: 2023-11-14

Exact text from the filing

On November 14, 2023, ImmuCell Corporation (the “Company”) entered a Third Amendment of Lease (the “Lease Amendment”), which Lease Amendment amends that certain Indenture of Lease, dated September 12, 2019 (the “Lease Agreement”), by and between the Company and TVP, LLC (the “Landlord”)

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IMMUCELL CORP /DE/ filing history →

Source: SEC EDGAR

accession 0001213900-23-087893

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