Lipella Pharmaceuticals signs new lease for 3,275 sq ft office/manufacturing space

LIPELLA PHARMACEUTICALS INC.

Lease with Bridgeway Development for ~3,275 sq ft at 7800 Susquehanna St, Pittsburgh, PA.
Term runs Aug 1, 2023 to June 30, 2025, co-terminating with existing lease; five-year extension option.
Annual base rent starts at ~$27,600 (year 1) and rises to ~$37,000 by final extension year.
Premises will be used for office, manufacturing and assembly work in addition to current space.

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

LIPELLA PHARMACEUTICALS INC. entered into New Lease with Bridgeway Development Corporation valued at approximately $27,600 (effective 2023-07-27).

Action: entry
Agreement: lease
Counterparty: Bridgeway Development Corporation
Value: approximately $27,600
Effective: 2023-07-27

Exact text from the filing

On July 27, 2023, Lipella Pharmaceuticals Inc. (the “Company”) entered into a new lease agreement (the “New Lease”) with Bridgeway Development Corporation for the lease of approximately 3,275 square feet of space in the building located at 7800 Susquehanna Street, Pittsburg, PA 15208 (the “Premises”).

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Source: SEC EDGAR

accession 0001753926-23-000985

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