PACIFIC BIOSCIENCES OF CALIFORNIA, INC. (PACB): debt financing — Pacific Biosciences extends Menlo Park lease to 2034, gets $11.6M rent abatement

PACIFIC BIOSCIENCES OF CALIFORNIA, INC.

Lease term extended to April 30, 2034 from Oct 31, 2027; 180,231 sq ft.
Base rent ranges from $5.70 to $6.81/sq ft/month; monthly rent ~$1.03M to ~$1.23M.
Seventeen months rent abatement totaling $11.64M; tenant improvement allowance $7.21M.
Option to extend through April 2044 at fair market rent.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

PACIFIC BIOSCIENCES OF CALIFORNIA, INC. amended lease obligation with Menlo Park Portfolio II, LLC maturing April 30, 2034.

Instrument: lease obligation
Counterparty: Menlo Park Portfolio II, LLC
Maturity: April 30, 2034
Event: amendment

Exact text from the filing

(the “Company”) entered into a Third Amendment to Lease (the “Lease Amendment”) with Menlo Park Portfolio II, LLC (“Lessor”) to amend the Lease by and between Lessor and the Company, dated July 22, 2015, as amended by the First Amendment to Lease, dated December 23, 2016, and as further amended by the Second Amendment to Lease, dated December 30, 2019 (collectively, the “Lease”), relating to the Company’s corporate headquarters, research and development facilities, and manufacturing and distribution centers in Menlo Park, California.

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PACIFIC BIOSCIENCES OF CALIFORNIA, INC. filing history →

Source: SEC EDGAR

accession 0001299130-25-000053

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