secwatch.observer — SEC 8-K summary
======================================

Issuer:     VIRCO MFG CORPORATION (VIRC)
CIK:        0000751365
Form:       8-K
Filed at:   2024-07-24T23:59:59+00:00
Accession:  0001628280-24-032847
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Virco enters 65-month lease extension for Torrance HQ facility through Sep 2030
-------------------------------------------------------------------------------

- Lease with Starboard Distribution Center for 559,000 sq ft; term May 1, 2025 to Sep 30, 2030 plus one 5-year option.
- Monthly base rent abated first 5 months, then $726,700 for Oct 2025-Apr 2026, with 3.5% annual increases.
- Tenant improvement allowance up to $1,677,000; security deposit $925,000 plus transfer of $313,817.50 from prior lease.
- Estimated initial monthly operating expenses of $132,760.19; use includes manufacturing, warehousing, and office.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/751365/000162828024032847/0001628280-24-032847-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/751365/000162828024032847/virc-20240723.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-032847

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer