RF Industries enters into Regus brand workspace management deal for 39,979 sq ft in San Diego

R F INDUSTRIES LTD

Agreement with RGN-MCA San Diego II (IWG) for managed flexible workspace under Regus brand for 39,979 sq ft of vacant office space.
Platform fee: 10% of gross revenue in year 1, rising to 12% in year 2, then 14% for remaining term.
Management fee of 2% of gross revenue; one-time set-up cost of $10,000 to IWG.
Company responsible for construction fit-out (estimated $550,000); can terminate if costs exceed 125% estimate.
Company retains net revenue after operating costs and fees; termination right if revenue thresholds not met after 4 years.

item 1.01

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

R F INDUSTRIES LTD entered into Managed Client Agreement with RGN-MCA San Diego II, LLC (effective 2023-06-27).

Action: entry
Counterparty: RGN-MCA San Diego II, LLC
Effective: 2023-06-27

Exact text from the filing

On June 27, 2023 (the “Commencement Date”), RF Industries, Ltd. (the “Company”) entered into a Managed Client Agreement (the “Agreement”) with RGN-MCA San Diego II, LLC (“IWG”)

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Source: SEC EDGAR

accession 0001437749-23-019246

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