ALBIREO PHARMA, INC. (NASDAQ:ALBO) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
On February 7, 2017, Albireo Pharma, Inc. entered into an Office
Lease Agreement with SHIGO 10 PO Owner LLC for approximately
5,116 rentable square feet (the New Office) in the building
located at 10 Post Office Square, Boston, Massachusetts.The New
Office will serve as Albireo’s executive offices.
The initial term of the lease is 62 months beginning on the later
of the date on which the landlord substantially completes certain
renovations to the New Office or March 1, 2017.Albireo has the
option to extend the lease one time for an additional 5-year
period.
Following a two-month rent abatement period, Albireo will be
obligated to make monthly rent payments in an amount beginning at
$20,997 and increasing by approximately 2% annually for the term
of the lease. In addition, Albireo is responsible under the lease
for specified costs and charges, including certain operating
expenses, utilities, taxes and insurance.
In addition, the lease contains customary events of default that
entitle the landlord, among other things, to terminate the lease
and recover from Albireo all rent payments and other amounts
payable as of the date of termination and that would otherwise be
payable for the remainder of the term of lease, plus certain
additional costs and expenses arising from the termination. The
specified events of default include, among others, nonpayment of
rent or other amounts due and payable by Albireo under the lease,
an uncured breach of a covenant under the lease and certain
bankruptcy and insolvency events.
The foregoing summary of the lease is qualified in its entirety
by reference to the full text of the lease, a copy of which is
attached as Exhibit 10.1 to this Current Report on Form 8-K and
incorporated herein by reference.
Item 2.03 Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a
Registrant.
The disclosure set forth above under Item 1.01 is incorporated
herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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10.1 |
Office Lease Agreement, dated as of February 7, 2017, by |
ALBIREO PHARMA, INC. (NASDAQ:ALBO) Recent Trading Information
ALBIREO PHARMA, INC. (NASDAQ:ALBO) closed its last trading session up +0.45 at 20.09 with 12,722 shares trading hands.
