IRIDEX CORPORATION (NASDAQ:IRIX) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01.
|
Entry into a Material Definitive Agreement. |
On April 26, 2017, IRIDEX Corporation (the Company), entered into
that certain Triple Net Lease (the Lease) dated April 26, 2017
between the Company and Terra Bella LLC, which extends the
Companys occupancy of its current headquarters through February
2022.
The Lease term will commence on March 1, 2019, immediately
following the expiration of the Companys current lease of the
premises. The Lease provides for a base rent of approximately
$100,000 per month commencing March 1, 2019. The Company is also
responsible for the payment of certain operating expenses and
taxes during the term. The Lease provides the landlord with a
termination right, which can be exercised by the landlord by
giving written notice to the Company at least thirty (30) months
prior to the effective date of the termination
The Lease contains customary representations and warranties and
financial and other affirmative and negative covenants, including
requirements of a security deposit and to maintain certain
minimum coverages of commercial general liability insurance. The
Lease also includes customary events of default, in certain cases
subject to customary cure periods.
The foregoing description of the Lease does not purport to be
complete and is qualified in its entirety by reference to the
full text of the Lease, which is filed as Exhibit 10.1 to this
Current Report on Form 8-K and is incorporated herein by
reference.
|
Item 2.03 |
Creation of a Direct Financial Obligation or an |
The information set forth above and referenced under Item 1.01 is
hereby incorporated by reference into this Item 2.03.
|
Item 9.01. |
Financial Statements and Exhibits. |
(d) Exhibits
|
Exhibit No. |
Description |
|
10.1 |
Triple Net Lease, dated as of April 26, 2017, by and |
About IRIDEX CORPORATION (NASDAQ:IRIX)
IRIDEX Corporation is a provider of therapeutic based laser consoles, delivery devices and consumable instrumentation used to treat sight-threatening eye diseases in ophthalmology. The Company operates through ophthalmology segment. Its ophthalmology products consist of laser consoles, delivery devices and consumable instrumentation, including laser probes, and are used in the treatment of serious eye diseases, including the over three causes of irreversible blindness, such as diabetic retinopathy, glaucoma and age-related macular degeneration (AMD). In addition, the Company’s ophthalmology products are often used in vitrectomy procedures (used to treat proliferative diabetic retinopathy, macular holes, retinal tears and detachments), which are generally performed in the operating room and require a consumable single use intraocular laser probe (EndoProbe) to deliver light to the back of the eye together with other instrumentation. IRIDEX CORPORATION (NASDAQ:IRIX) Recent Trading Information
IRIDEX CORPORATION (NASDAQ:IRIX) closed its last trading session up +0.06 at 11.46 with 32,237 shares trading hands.
