RF Industries enters lease amendment for $1M TIA and managed services agreement with IWG (Regus)

R F INDUSTRIES LTD

Third Amendment to Lease adds $1.0M tenant improvement allowance to construct and furnish adjacent office space.
Monthly base rent increases from ~$139k to ~$152k starting Oct 2023, with scheduled increases through 2032.
Managed Client Agreement with IWG (Regus) for 39,979 sq ft; IWG to operate flex workspace under Regus brand.
IWG pays platform fee (10-14% of gross revenue) and 2% management fee; Client receives net revenue.
Client may terminate if 4th-year net revenue under 60% of $1.053M threshold; construction cost overrun provision.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

R F INDUSTRIES LTD entered into Third Amendment to Lease with Sorrento West Properties, Inc. valued at Amendment provides for an increase in tenant improvements by an additional $1,000,000 and increases (effective 2023-07-11).

Action: entry
Agreement: lease
Counterparty: Sorrento West Properties, Inc.
Value: Amendment provides for an increase in tenant improvements by an additional $1,000,000 and increases
Effective: 2023-07-11

Exact text from the filing

On July 11, 2023, RF Industries, Ltd., a Nevada corporation (the “Company”) entered into a Third Amendment to Lease (the “Amendment”) with Sorrento West Properties, Inc., a Delaware corporation (the “Lessor”), amending that certain AIRCRE Standard Industrial/Commercial Single-Tenant Lease - Net, dated as of December 28, 2021, between the Company and Lessor (as amended, the “Lease”), under which the Company leases from Lessor industrial and commercial space located at 16868 Via Del Campo Court, San Diego, California (the “Premises”).

View on SEC.gov

737 material agreements filed in the last 30 days. Browse all material agreements →

R F INDUSTRIES LTD filing history →

Source: SEC EDGAR

accession 0001437749-23-019874

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.