Ra Medical terminates Carlsbad lease; pays $300k termination fee, forfeits $36k deposit

Catheter Precision, Inc.

Lease for 2070 Las Palmas Drive terminated effective October 28, 2022.
Ra Medical pays $300,000 termination fee and releases $36,017 security deposit.
Termination part of strategic review to minimize cash burn ahead of pending merger with Catheter Precision.
Premises surrendered as-is with all furniture, fixtures and equipment left behind.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

Catheter Precision, Inc. terminated Lease Termination Agreement with Anaya Holdings LLC valued at released right to $36,017.14 security deposit and paid $300,000 termination fee (effective 2022-10-28).

Action: termination
Agreement: lease
Counterparty: Anaya Holdings LLC
Value: released right to $36,017.14 security deposit and paid $300,000 termination fee
Effective: 2022-10-28

Exact text from the filing

Effective as of October 28, 2022, Ra Medical Systems, Inc. (the “Company”) entered into a lease termination agreement with Anaya Holdings LLC (the “Landlord”) (the “Lease Termination Agreement”) dated October 24, 2022, pursuant to which it terminated its lease agreement relating to the premises located at 2070 Las Palmas Drive, Carlsbad, CA 92011 (the “Lease Agreement”).

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Catheter Precision, Inc. filing history →

Source: SEC EDGAR

accession 0001564590-22-036622

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