Pliant Therapeutics signs 7-year lease for 100,904 sq ft in South San Francisco, terminates old lease

PLIANT THERAPEUTICS, INC.

Leased 100,904 rentable sq ft at 331 Oyster Point Blvd, South San Francisco for 7-year initial term.
Base rent starts at $0.26M/month in year 1 (based on phased rentable sq ft) and rises to $0.71M/month in year 7.
Old lease at 260 Littlefield Ave will terminate 60 days after new lease commencement; no early termination penalties.
Required $1.43M letter of credit; Tenant responsible for operating expenses and has 8-year extension option.
Right of first offer on 33,333 sq ft on 2nd floor, subject to superior right of NGM Biopharmaceuticals.

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

PLIANT THERAPEUTICS, INC. entered into Oyster Point Lease with HCP BTC, LLC valued at $0.26 million/month initial, $0.71 million/month final; 7 years; $1.43M letter of credit (effective 2023-09-28).

Action: entry
Agreement: lease
Counterparty: HCP BTC, LLC
Value: $0.26 million/month initial, $0.71 million/month final; 7 years; $1.43M letter of credit
Effective: 2023-09-28

Exact text from the filing

On September 28, 2023, Pliant Therapeutics, Inc., a Delaware Corporation (the “Company”) entered into a lease agreement (the “Oyster Point Lease”) with HCP BTC, LLC, a Delaware limited liability company (the “Landlord”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

PLIANT THERAPEUTICS, INC. terminated Littlefield Lease Termination with Healthpeak OP, LLC valued at Termination 60 days after Oyster Point Lease commencement; no penalty (effective 2023-09-28).

Action: termination
Agreement: lease
Counterparty: Healthpeak OP, LLC
Value: Termination 60 days after Oyster Point Lease commencement; no penalty
Effective: 2023-09-28

Exact text from the filing

In connection with the entry into the Oyster Point Lease, the Company entered into a termination agreement (the “Termination Agreement”) with Healthpeak OP, LLC, a Maryland limited liability company, successor-interest to HCP, Inc. (“Healthpeak”) with respect to the Company’s lease (the “Littlefield Lease”) of 260 Littlefield Avenue, South San Francisco, California 94080 (“Littlefield Premises”).

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

PLIANT THERAPEUTICS, INC. filing history →

Source: SEC EDGAR

accession 0001746473-23-000062

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