ALIGN TECHNOLOGY, INC. (NASDAQ:ALGN) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement
LBA RIV-COMPANY XXX, LLC (Seller) entered into a Purchase and
Sale Agreement (the Purchase Agreement) which provides for the
purchase by the Company of four parcels of real estate located in
Santa Clara County, California (the Property) from Seller,
consisting of (i) the real property described above and all
appurtenances thereto (the Land), (ii) improvements and fixtures
thereon, including those certain office/research and development
buildings having the street addresses of 2820 Orchard Parkway and
75 West Plumeria Drive, San Jose, California (the Improvements),
(iii) all of Sellers right, title and interest in and to all
tangible personal property upon the Land or within the
Improvements as of the date of the Purchase Agreement (the
Personal Property); and (iv) certain rights and privileges
associated with the Land, the Improvements and the Personal
Property as set forth in the Purchase Agreement.
certain adjustments as set forth in the Purchase Agreement, of
which $1,000,000 was deposited into escrow simultaneously with
the execution and delivery of the Purchase Agreement (the First
Deposit) and an additional $500,000 will be deposited into escrow
on or before the first business day after the delivery of the
approval notice by the Company (the Second Deposit). The Company
has a right to conduct investigations, inspections and studies
and to make inquiries regarding the Property during the period
beginning on the date of the Purchase Agreement and ending at
5:00 p.m. Pacific Time on Friday, January 6, 2017 (the Inspection
Period). If the Company fails to give Seller the approval notice
within the Inspection Period, or if the Company gives Seller
written notice within the Inspection Period of the Companys
election to terminate the Purchase Agreement, then the Purchase
Agreement will terminate and the First Deposit and Second
Deposit, together with all interest earned thereon, will be
returned to the Company. The closing is expected to occur on
January 26, 2017, subject to the satisfaction of closing
conditions, the execution of certain ancillary agreements and any
extensions contemplated by the Purchase Agreement.
to be complete and is qualified in its entirety by reference to
the Purchase Agreement, a copy of which is filed as Exhibit 10.1
to this Current Report on Form 8-K and incorporated herein by
reference.
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Item 9.01
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Financial Statements and Exhibits.
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Exhibit No.
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Description
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10.1
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Purchase and Sale Agreement between Align Technology,
Inc. and LBA RIV-COMPANY XXX, LLC, dated December 19, 2016 |
About ALIGN TECHNOLOGY, INC. (NASDAQ:ALGN)
Align Technology, Inc. designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment. The Clear Aligner segment consists of its Invisalign System, which includes Invisalign Full, Express/Lite, Teen, Assist and Vivera Retainers, along with its training and ancillary products for treating malocclusion. The Scanner segment consists of intra-oral scanning systems and other services available with the intra-oral scanners that provide digital alternatives to the traditional cast models. The Company’s iTero scanner is used by dental professionals, and labs and services for restorative and orthodontic digital procedures, as well as Invisalign digital impression submission. ALIGN TECHNOLOGY, INC. (NASDAQ:ALGN) Recent Trading Information
ALIGN TECHNOLOGY, INC. (NASDAQ:ALGN) closed its last trading session down -0.04 at 98.17 with 563,530 shares trading hands.
