UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01 Entry into a Material Definitive Agreement.
On September 3, 2021, the registrant and Farley White Concord Road, LLC (the “Landlord”) entered into a Lease (the “Lease”) for 70,125 square feet of office, research, laboratory and manufacturing space located at 290 Concord Rd., Billerica, Massachusetts (the “Premises”).
The Lease has a term of one hundred twenty-six months starting on the earlier of (i) the date of issuance of a certificate of occupancy (or equivalent) for the leased premises or (ii) the date the registrant occupies any portion of the leased premises for its business operations (the “Commencement Date”). Under the terms of the Lease, beginning on the date that is one hundred eighty days following the Commencement Date and ending on the date that is twelve months thereafter, the registrant is obligated to pay the Landlord monthly rent installments of $96,421.88. The registrant’s monthly base rent will increase by three percent of the then-current base rent on the first day of each succeeding twelve month period during the term of the Lease.
Subject to the terms and conditions of the Lease, the Landlord has agreed to reimburse the registrant for certain costs relating to the initial build out of the leased premises, in an initial amount not to exceed $3,506,250.00. Subject to certain conditions, the Landlord will reimburse the registrant for additional costs relating to the initial build out of the lease premises, provided, that such additional amount shall not exceed $3,155,625.00.
The foregoing summary is qualified in its entirety by reference to the Lease, a copy of which will be attached as an exhibit to the Company’s Quarterly Report on Form 10-Q for the period ending September 30, 2021.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: September 8, 2021 | T2 BIOSYSTEMS, INC. |
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| By: | /s/ John Sprague |
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| John Sprague Chief Financial Officer |
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