secwatch.observer — SEC 8-K summary
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Issuer:     Instil Bio, Inc. (TIL)
CIK:        0001789769
Form:       8-K
Filed at:   2024-07-11T23:59:59+00:00
Accession:  0001789769-24-000075
Event type: other_material
Sentiment:  positive
Materiality: 0.55
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

Instil Bio leases Tarzana facility to AstraZeneca for ~15 years at $7.5M/yr initial rent
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- Initial term ~15 years from July 10, 2024 to July 31, 2039; two 5-year extension options.
- Initial base rent $627,276/month ($7,527,312 annually) escalating 3% per annum.
- Tenant has one-time option to terminate at 10th anniversary with termination fee.
- Rent abatement during first year; Tenant also pays certain operating and tax expenses.
- Tenant granted a right of first offer to purchase the leased premises.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1789769/000178976924000075/0001789769-24-000075-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1789769/000178976924000075/til-20240710.htm
  HTML page:      https://secwatch.observer/filing/0001789769-24-000075

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