Arvinas Inc.
12/16/2024 | Press release | Distributed by Public on 12/16/2024 16:25
Material Agreement Form 8 K
Item 1.01 Entry into a Material Definitive Agreement.
On December 13, 2024, Arvinas Operations, Inc. (the "Company"), a wholly owned subsidiary of Arvinas, Inc., entered into a Seventh Amendment to Lease (the "Seventh Building 5 Lease Amendment") with Science Park Development Corporation (the "Landlord"). The Seventh Building 5 Lease Amendment further amends that certain Lease, executed on or about January 2, 2018, by and between the Company and the Landlord (as amended on May 23, 2018, September 4, 2018, March 12, 2019, January 31, 2020, January 4, 2021, and June 13, 2023, the "Original Building 5 Lease"), pursuant to which Operations leased certain office and laboratory space in New Haven, Connecticut (the "Building 5 Premises"). The Seventh Building 5 Lease Amendment expands the Building 5 Premises to include approximately an additional 1,500 rentable square feet for a total of approximately 64,000 rentable square feet, extends the term of the Original Building 5 Lease to December 31, 2029, and sets forth the monthly base rent during the extended term. From January 1, 2025 to December 31, 2025, the monthly base rent for the Building 5 Premises, as expanded, will be $157,380.04. The Seventh Building 5 Lease Amendment also provides the Company with the option to renew the Original Building 5 Lease, as amended by the Seventh Building 5 Lease Amendment, for an additional five years upon 270 days' notice prior to the expiration of the term, as well as a right of first offer to lease certain future available space at Building 5, within 20 days of receipt of notice from the Landlord of the availability of such additional premises. Except as set forth above, the material terms of the Original Building 5 Lease remain unchanged.
In addition, on December 13, 2024, the Company entered into a Third Amendment to Lease (the "Third Building 4 Lease Amendment") with the Landlord. The Third Building 4 Lease Amendment amends that certain Lease, dated as of November 15, 2019, by and between the Company and the Landlord (as amended on February 27, 2020 and January 4, 2021, the "Original Building 4 Lease"), for office and laboratory space in New Haven, Connecticut (the "Building 4 Premises"). The Third Building 4 Lease Amendment extends the term of the Original Building 4 Lease to December 31, 2029 and sets forth the monthly base rent during the extended term. From January 1, 2025 to December 31, 2025, the monthly base rent for the Building 4 Premises will be $8,653.33. The Third Building 4 Lease Amendment also provides the Company with the option to renew the Original Building 4 Lease, as amended by the Third Building 4 Lease Amendment, for an additional five years upon 270 days' notice prior to the expiration of the term, as well as a right of first offer to lease certain future available space at Building 4, within 20 days of receipt of notice from the Landlord of the availability of such additional premises. Except as set forth above, the material terms of the Original Building 4 Lease remain unchanged.
The foregoing summary of the Seventh Building 5 Amendment and the Third Building 4 Lease Amendment do not purport to be complete and are qualified in their entirety by reference to the full text of the Seventh Building 5 Amendment and the Third Building 4 Lease Amendment, copies of which Arvinas, Inc. expects to file with the U.S. Securities and Exchange Commission as exhibits to its Annual Report on Form 10-K for the year ending December 31, 2024.