Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Shuttle Pharmaceuticals Holdings, Inc. entered into Lease Agreement with ARE-QRS Corp. valued at Base rent of $7,206 per month, term of 5.25 years, option to extend for three years, pro rata operat (effective 2023-02-16).
- Action
- entry
- Agreement
- lease
- Counterparty
- ARE-QRS Corp.
- Value
- Base rent of $7,206 per month, term of 5.25 years, option to extend for three years, pro rata operat
- Effective
- 2023-02-16
Exact text from the filing
On February 16, 2023, Shuttle Pharmaceuticals, Inc., a Maryland corporation (“Shuttle), a wholly owned subsidiary of Shuttle Pharmaceuticals Holding, Inc., a Delaware corporation (the “Company”), entered into a lease agreement (the “Lease Agreement”) with ARE-QRS Corp., a Maryland corporation (the “Landlord”), for purposes of renting 2,109 square feet of office and laboratory space in Gaithersburg, Maryland, which will serve as the Company’s new office space commencing on or about June 1, 2023. The lease has a term of 5.25 years (the “Lease Term”), with an option to extend the lease for an additional three years. The base rent will be $7,206 per month (the “Base Rent”), subject to a customary rent abatement at the outset of the lease and a customary percentage increase in the Base Rent each year. The new office and laboratory space is located in a building with 63,154 square feet of office and laboratory space, largely occupied by other pharmaceutical and biotech companies. In addition
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