COGENTIX MEDICAL, INC. (NASDAQ:CGNT) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
Entry into a Material Definitive Agreement
On January 6, 2017, Cogentix Medical, Inc. (the “Company”) entered into the Sixth Amendment (the “Sixth Amendment”) to its definitive lease agreement with 30 Ramland Road LLC, dated March 23, 2000 (the “Lease”), as previously amended by the First Amendment, dated August 31, 2000 (the “First Amendment”), the Second Amendment, dated January 7, 2005 (the “Second Amendment,”), the Third Amendment, dated December 26, 2006 (the “Third Amendment”), the Fourth Amendment, dated April 12, 2009 (the “Fourth Amendment”), and the Fifth Amendment, dated December 12, 2014 (together with the First Amendment, Second Amendment, Third Amendment, Fourth Amendment, and Sixth Amendment, the “Amendments”), for the Company’s 20,500 square-foot office, warehouse and manufacturing facility in Orangeburg, New York.
to the Sixth Amendment, the term of the Lease has been extended 18 months beginning on September 1, 2017 until February 28, 2019 and, starting on September 1, 2017, the annual rent has been increased by 3.5% from $343,375 per year to $355,468 per year, payable in equal monthly installments.
The foregoing description of the Lease and the Amendments is not complete and is qualified in its entirety by reference to the full text of the Lease and the Amendments, respectively, which will be listed as exhibits to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016.
About COGENTIX MEDICAL, INC. (NASDAQ:CGNT)
Cogentix Medical, Inc. is a global medical device company. The Company designs, develops, manufactures and markets a line of fiber-optic and video endoscopy products under the PrimeSight brand that are used across various surgical specialties in diagnostic and treatment procedures. The Company also offers the Urgent PC Neuromodulation System (Urgent PC Systems), a device that delivers percutaneous tibial nerve stimulation (PTNS), for the office-based treatment of overactive bladder (OAB). The Company also offers Macroplastique Implants, an injectable urethral bulking agent for the treatment of adult female stress urinary incontinence that is primarily due to intrinsic sphincter deficiency. The PrimeSight flexible endoscopes are used in conjunction with the sterile, single-use microbial barrier known as the EndoSheath Protective Barrier. The PrimeSight endoscopy line also includes rigid endoscopes and portable peripherals, such as the video system and stroboscopy unit. COGENTIX MEDICAL, INC. (NASDAQ:CGNT) Recent Trading Information
COGENTIX MEDICAL, INC. (NASDAQ:CGNT) closed its last trading session down -0.01 at 2.09 with 80,558 shares trading hands.
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