Vivani Medical enters 124-month lease for new HQ in Alameda, CA; annual rent starts at $2.68M

Vivani Medical, Inc.

124-month lease for 43,645 sq ft at 1350 South Loop Road, Alameda, CA, commencing June 1, 2023.
Base rent escalates from $2,676,311/year (first year) to $3,596,784/year (final year).
Rent abatement for first 4 months totaling $892,104.
Security deposit of $1,338,156, reducible after 3 and 5 years.
Lease includes option to extend and tenant improvement allowance of $120/sq ft.

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

Vivani Medical, Inc. entered into a lease with 1350 South Loop, LLC valued at $2,676,311.40 per year (effective 2022-11-21).

Action: entry
Agreement: lease
Counterparty: 1350 South Loop, LLC
Value: $2,676,311.40 per year
Effective: 2022-11-21

Exact text from the filing

On November 28, 2022, Vivani Medical, Inc. (“Vivani”) entered into a 124-month lease agreement, effective November 21, 2022, with 1350 South Loop, LLC to rent premises for its new corporate headquarters with a commencement date of June 1, 2023. Vivani will rent approximately 43,645 square feet at a rate beginning at $2,676,311.40 per year, and increasing to $3,596,784.45 per year in 2033. In addition to the base rent, Vivani is also responsible for certain expenses and taxes. The premises is located at 1350 South Loop Road, Alameda CA 94502.

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Source: SEC EDGAR

accession 0001753926-22-001508

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