Prothena enters sublease for 31,157 sq ft in Brisbane, CA; rent starts July 2023

PROTHENA CORP PUBLIC LTD CO

PBI subleases ~31,157 sq ft from Arcus Biosciences at 1800 Sierra Point Parkway, Brisbane, CA.
Term ends Sep 30, 2028; rent begins Jul 1, 2023 with monthly base rent ~$241,467 in year 1.
Rent increases ~3.5% annually; first six months rent abated.
Improvement allowance of ~$9.35M from sublandlord for construction and prep.
Standby letter of credit ~$860,360 posted to secure obligations.

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

PROTHENA CORP PUBLIC LTD CO entered into Sublease with Arcus Biosciences, Inc. valued at approximately $9,347,100.00 (effective 2022-10-28).

Action: entry
Agreement: lease
Counterparty: Arcus Biosciences, Inc.
Value: approximately $9,347,100.00
Effective: 2022-10-28

Exact text from the filing

On October 28, 2022, Prothena Biosciences Inc (“PBI”), a wholly owned subsidiary of Prothena Corporation plc (the “Company”), entered into a Sublease (the “Sublease”) with Arcus Biosciences, Inc., a Delaware corporation (“Sublandlord”), to sublease approximately 31,157 square feet of office and laboratory space located at 1800 Sierra Point Parkway, Brisbane, California (the “New Facility”).

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

PROTHENA CORP PUBLIC LTD CO filing history →

Source: SEC EDGAR

accession 0001559053-22-000040

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