iROBOT CORPORATION (NASDAQ:IRBT) Files An 8-K Entry into a Material Definitive AgreementItem 1.01Entry into a Material Definitive Agreement.
On July 5, 2017, iRobot Corporation (the “Company”) and DIV Bedford, LLC entered into a Sixth Amendment to Lease (the “Amendment”), which amends certain provisions of that certain Lease Agreement, by and between the Company and Boston Properties Limited Partnership, dated as of February22, 2007, as amended (the “Lease”), regarding the Company’s corporate headquarters located at 4-18 Crosby Drive, Bedford, Massachusetts (the “Property”). The Amendment provides for, among other things, an expansion of an additional 5,645 square feet of leased space at the Property and provides the Company a right of first refusal, subject to certain conditions, to lease certain other space at the Property as and when such space becomes available.
to the Amendment, the term of the Lease is extended for an additional ten years, commencing on May 1, 2020 and expiring on April 30, 2030. The Company has an option to further extend the term of the Lease for one additional ten-year period (the “Second Extension Term”), subject to certain conditions, including the absence of an event of default as of the commencement of the Second Extension Term.
About iROBOT CORPORATION (NASDAQ:IRBT)
iRobot Corporation is engaged in designing and building robots. The Company’s portfolio of solutions focus on technologies for the connected home and concepts in navigation, mobility, mapping and artificial intelligence. The Company operates through consumer robots segment. It designs robots for the consumer, telemedicine and mobile video collaboration markets. The Company’s brands include iRobot, Roomba, Scooba, Mint, ViPR, NorthStar, Create, iAdapt, Aware, Home Base, Looj, Braava, AeroForce, uPoint, AeroVac, Mirra and Virtual Wall. The Company offers multiple Roomba floor vacuuming robots. Its consumer products are focused on both indoor and outdoor cleaning applications. The Company focuses on behavior-based, artificially-intelligent systems developed to meet customer requirements in multiple market segments. The Company’s Braava automatic floor mopping robots are designed for hard surface floors. Its Looj Gutter Cleaning Robot cleans an entire stretch of gutter.
