Oragenics terminates Alachua lease, cuts two staff, transitions officer to consultant amid cash preservation

ORAGENICS INC

Terminated lease at 13700 Progress Blvd, Alachua FL by paying 9 months advance rent plus prorated September rent and sales tax; security deposit forfeited.
Eliminated two staff positions; Dr. Martin Handfield moved from employee to hourly consultant, employment agreement terminated.
Lab used for lantibiotic R&D closed; company expects to continue R&D via third-party facilities as capital allows.
Actions taken to reduce cash burn while company continues to seek additional funding.

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

ORAGENICS INC terminated Lease with Hawley-Wiggins, LLC with Hawley-Wiggins, LLC valued at paid nine months of advance rent, plus prorated rent for September, plus applicable sales tax; secur (effective 2023-09-13).

Action: termination
Agreement: lease
Counterparty: Hawley-Wiggins, LLC
Value: paid nine months of advance rent, plus prorated rent for September, plus applicable sales tax; secur
Effective: 2023-09-13

Exact text from the filing

On September 13, 2023 Oragenics, Inc. (the “Company”) exercised its option under its lease with Hawley-Wiggins, LLC, a Florida Limited Liability Company (the “Landlord”), for the building located in Progress Park and known as 13700 Progress Boulevard, Alachua, Florida 32615 (the “Lease”) to terminate the Lease by paying nine (9) months of advance rent, plus prorated rent for the month of September, plus applicable sales tax.

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Source: SEC EDGAR

accession 0001493152-23-032757

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