ImmunoGen, Inc. (NASDAQ:IMGN) Files An 8-K Entry into a Material Definitive AgreementITEM 1.01.ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On April 6, 2018, ImmunoGen, Inc. (also referred to as “we” and “our”) entered into a Fourth Amendment to Lease Agreement (the “Fourth Amendment”) with CRP/King 830 Winter, L.L.C. (“Landlord”) with respect to the Company’s facility located at 830 Winter Street, Waltham, Massachusetts (the “Building”). to the Fourth Amendment, we have agreed to lease an additional approximately 10,000 square feet of office space in the Building (the “Additional Space”).We plan to occupy the Additional Space around October 2018 in connection with the consolidation of certain of our operations into the Building from our facility in Norwood, Massachusetts, which we are closing.The initial lease term for the Additional Space is until March 31, 2026, which coincides with the initial term for approximately 110,035 square feet of office and laboratory space in the Building (the “Original Space”) leased under the original Lease Agreement effective July 27, 2007, as amended (the “Original Lease”).Our option to extend the term of the Original Lease for two additional terms of five years applies to the Additional Space as well.Under the terms of the Fourth Amendment, we will pay the Landlord annual fixed rent for the Additional Space of $480,000 for the first year, subject to certain credits described below, and $490,000 for the second year, with a 3% annual increase for each year thereafter for the remainder of the term, in each case payable in monthly installments, as well as our proportionate share of taxes and operating expenses in all years.With respect to the first twelve monthly installments of rent, we are entitled to the following credits against such payments: $18,000 for months one through six; $12,000 for months seven through nine; and $6,000 for months ten through twelve.
